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A pay-as-you-go degree has been launched by the Researcher Development Initiative (RDI) company.

Its aim is to provide a university of Wales-equivalent BA Business degree online, whilst enabling its participants to avoid the "massive debts" incurred by many students, Online Recruitment reports.

With quarterly start dates and no campus attendance required, the course also intends to offer flexibility and its modular format enables pay-as-you-go studying.

A Coventry-based company, RDI also offers distance learning degrees in psychology, business computing, tourism and hospitality along with accountancy and financial management.

RDI chief educational officer Dr Phil Hallam commented that the average university takes 11 years to pay of their student debt, while its degrees only incur an initial payment of about £360.

"By the end of their studies, students [taking RDI's degree] could not only be debt free but also three years further ahead in their careers than their on-campus counterparts," he claimed.

Recent figures from the National Union of Students estimated the costs of university to be £12,600 each year, the Mirror reports.

But the body's research also claimed that a graduate can typically earn between 40 and 60 per cent more over their working life.

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