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Graduate debt is starting to spiral out of control

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The average student debt is now ?12,100, according to Barclays' annual graduate survey, a 10% increase since last year and a 500% rise since 1995. It is expected most graduates will have to work for 10 years before they are out of the red.


It's perhaps not surprising then that the Department of Trade and Industry recently revealed that the number of graduates who declare themselves bankrupt each year has trebled to almost 900. The situation looks set to get worse. If the current trend continues, Barclays expects student debt to reach an average of £33,700 by 2010.

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