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Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive` School focuses on "curing Ireland`s debt disease"

Student debt `has tripled since 2002`

02/11/2009

Today, the average student will graduate with £23,000 of debt - three times as much as was the case in 2002 - according to the recent Push Student Debt Survey.

Most of today`s graduates have to `contend with an avalanche of debt`, as well as an increasingly difficult job market. So says the Guardian, in an article which looks at how graduates are coping with the practical and psychological issues which debt can cause.

The article quotes a couple of recent graduates. One talks of putting most of her MA debt on a credit card, while another describes the feeling of living in a "culture of debt" in which her deteriorating finances "almost didn`t mean anything. You know you`re not the only one facing big debts - all of society is too."

Over the last ten years, according to Dr Ruth Caleb, Head of Counselling at Brunel University, there has been a significant rise in the number of students looking for help with their money worries. She noted that being in debt tends to lead to other problems too, such as `depression, social difficulties and conflict in relationships`.

"Many talk about their mounting debts," said Dr Caleb. "It`s a package, really: rising debts often come with other problems."

The article also points out that levels of debt among students vary from region to region and from course to course. In Scotland, for example, levels of debt have fallen. And people studying medicine can have £50,000 of debt, or even more.

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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