Students face `lifetime of debt` with `poor job prospects`

Today`s university students face a "lifetime of debt" because of the rise in tuition fees, according to uSwitch.com.

And "poor job prospects" may contribute to a "bleak financial situation" that could force them to delay their plans for the future, with nearly four in ten graduates "putting their life on hold because of debt".

Furthermore, almost one in three (30%) have put off starting a family, and over a quarter (29%) have delayed their marriage plans.

Earlier this year, the cap on university tuition fees was raised to £9,000, meaning the average graduate debt is likely to increase significantly from the current £21,198.

An expert at debt management company Gregory Pennington said: "Student debt has been a concern for many graduates in recent years, but with tuition fees rising sharply, we`re likely to see much higher debt levels in the future.

"Government student loans are designed to be repaid only when the graduate earns above a certain amount, but many people still won`t be comfortable owing what could easily be in excess of £30,000.

"What`s more, other debts - such as overdrafts and credit cards - could prove a lot more difficult to repay for a recent graduate, especially if they`re struggling to find work."