| Students fret over daily cash crunch and disregard graduating debt |
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A research conducted by Dr. Adrian Scott from the University of Bath divulged that students were more worried about their daily spending money or ‘pocket money’, than their huge amounts in debt. The report made quite an interesting revelation that students were getting so inured to taking debts that debts had become quite ‘manageable’ for them.
Raised levels of tension and depression were conspicuous in students regarding their daily bills and everyday expenses. It was the immediate need of cash in hand that was the major cause of concern among students rather than their whopping debt amounts. The Unite/Mori survey of student attitudes over financial matters published this year explained that such was the trend because students were in a way getting habituated to borrowing and thought that debt could be dealt with conveniently after graduation. It is therefore, no wonder that there has been a five-time increase in graduate debt in the past 10 years.
However, their definition of a ‘manageable debt’ was crossing boundaries. It had transcended the previous manageable debt level of £1,300 and had now reached an enormous £4,500. Dr. Scott explained that debt mattered more to students only after they were out of college as their debt levels hardly impacted their daily lives. So, as far as debt kept a safe distance from students on an everyday basis, they preferred not to bother it either. Also, Dr. Scott said that students thought ‘there's nothing they can do about the debts, so there's no point worrying.”
Nonetheless, rising debt levels can be linked also to the looming rise in tuition fees which is already scaring candidates and compelling them to take on higher debt to combat the fee increase.
Last summer’s analysis published by Barclays bank confirmed an average students debt has risen to an appalling £12,069 in England and Wales.
Posted
on : Tue, 05 Apr 2005 00:00 GMT | Debt News
By : Paula Jenkins
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