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Students 'more realistic than parents over debt'
Young people heading to university tend to be more realistic over the debts they face than their parents, new research has suggested.
According to the survey by the Association of Investment Companies (AIC), the average student starting a university course this year will graduate this £24,704 of debt, which may interest those considering personal loans.
It found that 34 per cent of students rightly predicted they will graduate with over £20,000 of debt, while a quarter of guardians feel their children will have less than £10,000 of debt.
AIC's acting communications director Ian Overgage said: "It is worrying that so many students and their parents are still underestimating the true cost of going to university.
"Many young people go to university to enjoy some of the best years of their life but the reality on graduation is a huge financial burden which will take years to pay off."
Recent figures from Santander revealed that students are working a total of 2.7 million hours each week during term time to fund their studies.