Graduate Job News

Large student debts can become a barrier to entering certain careers after university, according to a national money education charity.

Chris Tapp, associate director of Credit Action, suggested that the number of graduates being forced to declare insolvency was on the increase as a result of large student debts.

Mr Tapp explained that bankruptcy can badly affect a graduate's credit rating, their ability to get a mortgage and their ability to work in certain professions.

He continued: "If you want to go into the legal profession or accountancy for example - and you've previously been declared insolvent - then that can be a real barrier.

"The culture of debt that goes hand in hand with student loans can have very serious long-term consequences on people's financial wellbeing and wider wellbeing as well."

A recent study found that around 68 per cent of UK students are letting their work suffer because they are forced to seek paid employment while at university.

The survey by video recruitment website jobs2view found that over 30 per cent of respondents had to spend more time earning money than completing academic assignments.

Mr Tapp concluded: "I would be very surprised indeed if [the number of young people being declared insolvent] wasn't a rising percentage."

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