English graduates saddled with debt, research shows

English graduates are facing the highest debt levels in the English-speaking world, higher than the US, Canada, Australia and New Zealand, according to new research.

Those who graduated from English universities last year – under the £9,000 fees regime – owe an average of more than £44,000, data from the Sutton Trust shows.

However, debts can rise up to £50,000 for poorer students, the charity warned.

This follows fears that the UK is losing bright students to Ivy League universities, like Harvard, because of rising fees at home and more grants available abroad.

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Sir Peter Lampl, chairman of the Sutton Trust and Education Endowment Foundation, said: “These debt levels are by far the highest in the English speaking world and are more than double average debt levels at universities in the United States, where students study for four year programmes, rather than three.

“They impact on the ability of graduates to go to graduate schools, to afford a mortgage, the timing of having children and other major life decisions.

“The cost of going to university has become so expensive that more young people should seriously consider higher level apprenticeships, preferably to degree level.

“By choosing this route they will earn while they learn, incur less debt, and develop skills which are greatly valued in the workplace.

“We need more good apprenticeships to offer genuine alternatives to university degrees.”

Read his full report here