Debt: quarter of low-income students unaware of financial help

A quarter of students from low-income families are unaware of the financial help available to help them through university, according to a new study.

The research, led by Claire Callender, Professor of Higher Education Policy at Birkbeck, University of London, found that students from families with an annual income of less than £25,000 were least likely to be aware of the £192m of bursaries and scholarships that universities in England provide.

Students from such families are entitled to a minimum bursary of £319 a year, with some universities offering as much as £3,150.

A spokesperson for debt management company Gregory Pennington said that without financial assistance, students from low-income families could be taking on a lot more debt than they need to.

"Most students take out a Government student loan, but this rarely covers 100% of a student`s costs, so most will have an overdraft or other form of credit. Those from low-income families could find the debt particularly difficult to repay, which is one reason grants and bursaries are so important."

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.