Push releases figures for 2009 student debt survey
DATE: Monday
17th August 2009
CONTACT: Kate
McCann, 020-3176 0377/8
Email:
press@push.co.uk
EMBARGO:
00:01,
Tuesday 18th
August 2009
NEW
STUDENTS SHOULD EXPECT TO OWE
£23,500, PUSH SURVEY REVEALS
The
UK’s largest survey of student finance, published today on
Push.co.uk,
reveals that students who started at university last year can expect
to owe nearly £21,200 by the time they leave and new students
should reckon on at least £2,000 more than that.
The
annual survey by Push, the UK’s leading independent resource for
prospective students, has found that student debt has topped £5,000
for each year of study for the first time. The inflation-busting
increase of 10.6% may in part be down to availability of part-time
and temporary jobs during the recession.
The
Push Student Debt Survey is the most detailed annual analysis of
students’ financial position and this year’s is the largest to
date, involving face-to-face interviews with over 2,000 students at
137 university campuses throughout the UK.
Prospective
students receiving their A level results on Thursday will be
particularly concerned as some sources of income have been drying up
while debt rises. Other research by Push.co.uk suggests that 80% of
students rely on part-time or holiday jobs to supplement their income
by an average of £2,000 a year, but these jobs are getting
harder to find.
The
different funding arrangements around the UK are also reflected in
the data. In Scotland, which has the most generous funding system,
debts have actually fallen to £2,194 a year and are much lower
than the rest of the UK. Meanwhile, with an average of £5,271,
students in England owe £205 for each year more than the
national average.
There
is considerable variation between individual universities too. The
national average projected debt on graduation stands at £15,812,
but at 6 universities, the figure has already broken the £25,000
barrier. However, at 20 universities, most of which are in Scotland,
borrowing is likely to remain under £10,000.
The
figures posted today on Push.co.uk
form part of the website’s detailed profiles of every university in
the UK, covering every aspect of student life from teaching standards
to the price of beer on each campus.
With
university clearing starting on Friday, Push.co.uk
features exclusive, insider information on finding the right
university and tips to give your application the edge. The website
also boasts the ‘Uni Chooser’ tool, the uniquely powerful
search-and-sort facility which enables students to find the
university most suited to them.
Johnny
Rich, Editor of Push.co.uk,
commented:
“With
the economy in recession, students are even more concerned about debt
than they have been in recent years. Finding part-time work has got
harder and many students are facing real financial hardship and are
worrying about what lies ahead. Even so, the advantages of having a
degree still vastly outweigh the costs and the Push survey shows that
– with high quality advice and information – students can keep
their debts down while still enjoying the benefits of university.
“These
figures will give next year’s review of student funding a real
headache. They beg the question whether we’ve now passed the point
where students can be expected to stump up any more towards their
education.”
-
ends -
For
a full version of The Push Student Debt Survey 2009, visit
www.push.co.uk/press/student-debt-survey-2009
For
further information including university league tables, top tens,
regional and local breakdowns, and interviews with Johnny Rich,
Series Editor:
Online: http://www.push.co.uk/press/
Kate
McCann: Tel: 020-3176 0377/8
Email:
press@push.co.uk
Outside
office hours, contact Johnny Rich: 078 1111 4292
NOTES
TO EDITORS:
Push
was
founded in 1992 as an independent organisation that visits every
university in the UK every year gathering the country’s largest
resource of information for prospective students.
This
information is presented in an accessible and user-friendly style and
published without fear or favour at www.push.co.uk.
The site provides an invaluable resource for anyone hunting for a
university place. It features comprehensive information about each
university, application and survival advice, financial guidance,
forums and a uniquely powerful search function to help applicants
identify the right university for them.
In
association with Lloyds TSB, each year Push
also
visits hundred of schools, colleges and sixth forms giving advice
direct to students and is a respected supplier of information about
higher education to media outlets and businesses.
THE
PUSH STUDENT DEBT SURVEY 2009: RESULTS SUMMARY
|
All
groups
|
|
|
No.
of respondents
|
Average
debt per year
|
Projected
debt on graduation
|
|
All
groups
|
2,024
|
£5,066
|
£15,812
|
|
|
|
|
|
|
By
year of study
|
|
Year
of study
|
No.
of respondents
|
Average
debt per year
|
Projected
debt on graduation
|
|
1
|
689
|
£6,626
|
£21,198
|
|
2
|
625
|
£4,740
|
£15,166
|
|
3
|
494
|
£4,337
|
£13,874
|
|
4
|
183
|
£2,956
|
£11,824
|
|
|
|
|
|
|
By
country
|
|
Country
|
No.
of respondents
|
Average
debt per year
|
Projected
debt on graduation
|
|
Wales
|
130
|
£4,021
|
£12,434
|
|
Scotland
|
231
|
£2,194
|
£9,844
|
|
N
Ireland
|
30
|
£4,324
|
£13,299
|
|
England
|
1631
|
£5,271
|
£16,159
|
|
|
|
|
|
|
Comparisons
2004-2008: Average annual debts
|
|
|
|
|
|
|
|
|
2004
|
2005
|
2006
|
2007
|
2008
|
2009
|
%
change
on 2008
|
|
National
average
|
£3,411
|
£3,428
|
£3,117
|
£4,097
|
£4,530
|
£5,066
|
9.6%
|
|
|
|
|
|
|
|
|
|
|
Wales
|
£2,940
|
£3,144
|
£3,441
|
£4,136
|
£4,021
|
£4,782
|
15.9%
|
|
Scotland
|
£2,547
|
£2,476
|
£2,283
|
£2,344
|
£3,453
|
£2,194
|
-36.5%
|
|
NI
|
£820
|
£820
|
£3,387
|
£4,067
|
£3,061
|
£4,324
|
29.2%
|
|
England
|
£3,379
|
£3,660
|
£3,200
|
£4,295
|
£4,729
|
£5,271
|
10.3%
|
Copyright
Push © 2009
Last updated on: 14 August 2009