New student? Congratulations, you’ll be indebted until middle age

The Mirror covered the new Sutton Trust/IFS report on graduate debt.

A Sutton Trust report has said their research paints a “gloomy picture” of the implications of the 2012 student tuition fee reforms.

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The debt from fee loans alone has risen 152% from £11,807 pre-2012, to a whopping £29,838. That’s just over the average graduate starting salary of £29,000.

Student debt under the old system used to be written off after 25 years – if you hadn’t paid off the loan by then, you didn’t have to pay any more. The new rules have changed this to 30 years, yet the level of debt in the first place means that there’s a larger amount of debt that will, on average, be written off.

Read the full article here.