Graduates struggle to find work and clear debts

According to figures compiled for The Guardian, 40,000 graduates will still be struggling to find work in six months` time.

The `class of 2009`, who were the first ones to pay the £3,000 a year top-up fee, will be `the most indebted in history`, and they also face the highest levels of graduate unemployment in a generation.

Deputy director of research at The Higher Education Careers Service Unit (Hecsu), Charlie Ball, said: "If this follows the last recession we could see up to four years of depressed jobs for graduates. We think it`s going to be at least as bad next year."

A spokesperson for Gregory Pennington added: "A recession can be a worrying time for anyone, especially people with high levels of personal debt.

"Graduates might not have to repay their student loans immediately - but if they have high levels of other debt, from credit or store cards for example, then this could become a real problem very quickly if they don`t have an income to service their repayments."

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