Increase in living costs `will drive even more students into debt`

By Matthew Plant – Financial specialist

Jenny Willot, Cardiff Central`s Liberal Democrat MP, has warned about the dangers of student debt after a report by the NUS (National Union of Students) highlighted a dramatic rise in the cost of student accommodation in Wales, politics.co.uk reports.

The research, which was carried about by the NUS and Unipol Student Homes, revealed that the cost of student rent in Wales has risen by 18.5% over the past three years. The average cost of rent per student in Wales now stands at £79.40 per week.

Ms. Willot said: "The figures released by the NUS show that it is becoming harder and harder for students to afford all the costs associated with going to University. The average student debt is already £17,500 and the increase in accommodation costs will cause even more financial difficulties."

President of the NUS, Wes Streeting, commented: "Students are already graduating with tens of thousands of pounds of debt, and soaring accommodation costs will only make the situation worse. With graduate job prospects at an all-time low, things are looking very bleak for many students."

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Tags: student, debt, student debt, student debts, NUS, National Union of Students, student accommodation in Wales

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