The average debt for UK students graduating in 2006 increased by over 5 per cent, recent figures have shown.
According to statistics compiled by debt charity Credit Action, 2006 saw graduates leaving university with an average debt of a whacking £13,252. In addition, it was revealed that less than 40 per cent of young people know where to turn for help with debt problems.
Upto 80 per cent of young people (16-24) are failing to keep track of finances, with students in particular demonstrating that bugeting is not a priority, instead turning to further overdrafts and credit cards which plunge them into increased debt.