`Over a decade` to repay student debt

By Matthew Plant – Financial specialist

Around half of students think it`ll take them more than a decade to repay their student debt. This is one of the findings of a survey by the Association of Investment Companies (AIC).

The AIC annual survey into attitudes towards student debt indicates that 82% of parents think that it`s become harder to pay for their children`s university education thanks to the recession.

It also shows that the average 2011 graduate will leave university with £21,198 of debt - and that 49% think repaying their student debt will take them more than ten years, while 8% think it`ll take them over 20 years.

It seems students are more realistic about debt than their parents: 34% of students think they`ll graduate with over £20,000 of debt, while just 19% of parents think this will be the case.

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Tags: student debt, debt repayment, debt, students, Association of Investment Companies

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