The survey commissioned by Endsleigh insurance, showed that almost thirty per cent (29.2%) of students questioned thought that they will graduate with debts of over £20,000.

There was also over a quarter more (26.4%) who believed they will leave university owing up to £20,000 and 16.8 per cent believing they will have debts of up to £15,000.

One in thirteen (7.5%) students think that they will leave their studies with no debt problems at all.

Worrying though was the time that many students believed it would take to clear their debts. Almost one in four people (23.3%) believed that their debts would take twenty years to clear, whilst a further 38.4 per cent believe it will take ten years to get out of debt.

James Crocker, Endsleigh Financial Adviser, said: “The results of the survey point to the increasing financial strain that today’s student is under. In the short term, students need to manage their finances as carefully as possible by creating a budget and sticking to it so as not to get into even more debt.”

Ivan Cooper, Chairman at debt management specialists Chiltern, said: “Many students will end up graduating with potential debt problems if they fail to land a job to quickly repay it.

“As we have seen recently the employment market is much tougher, so students may need to seek debt advice, along with seeking a job when they leave university.

“Prevention is always better then cure, so students should avoid developing high-interest credit card debts or unnecessarily high overdrafts to keep their debts lower for when they leave university.”

Students predict debt management worries is a post from: The Debt People

The meltdown of the student loans process, reportedly caused by poor planning, administrative blunders and the recession, has left ten per cent of students without cash at the start of term.

This leaves thousands at the risk of developing debt problems, as they may have to fund their rent, books and other outgoings with their available credit.

For those without a credit card or overdraft facility, the risk is increased further – as they may be tempted to use expensive loan sharks or other ways to cover their costs.

Students have complained about documents going missing, and being stuck on hold for hours on telephone helplines only to be given no information when they finally get through.

Debt advice organisations have expressed concern for the 50,000 students who start without their much needed money.

Ivan Cooper, Chairman at debt management specialists Chiltern, said: “It’s always difficult for students to balance their finances, but withoutthe funding in place from the start of term, more will be at risk of developing debt problems.

“More should be done to offer students debt help, as it is often their first taste of independent life away from home, and it can be very hard for them to get out of debt with their limited finances.”

Students face debt management meltdown is a post from: The Debt People

The study of 2,024 students by The Push Student Debt Survey, questioned academics at varying stages of their degree courses and discovered that debt levels averaged more than £5,000 a year.

Worryingly debt levels in England have increased by 10% in the last twelve months, suggesting that the debt problems of students are getting worse.

A separate study by the National Union of Students (NUS) suggests that the fees for some degrees are masked by “hidden costs”, which makes some courses unknowingly more expensive than others.

Maths and computer science students spent the most in additional hidden costs Рan average of ¬£1,430.40 per year on books and equipment.

The survey also suggests the amount of debt students incur varies widely between regions and institutions, with students in England having the highest levels of debt Рan average of ¬£5,271 for each year of study. Worst hit are students in London, where some say they will owe over ¬£30,000 by the time they graduate.

For many students, overdrafts, loans and credit card debts are used to maintain their living costs throughout university.

Johnny Rich, editor of Push, said the recession isn’t helping to stop the rise of student debt.

“Finding part-time work has got harder and many students are facing real financial hardship and are worrying about what lies ahead.

“They beg the question of whether we’ve now passed the point where students can be expected to stump up any more towards their education.”

Wes Streeting, NUS president claims that universities needed to “be more open” with regards the financial implications that being a student entails.

He said: “There should be better information, advice and guidance about student finance on university websites and in their prospectuses”.

Ivan Cooper, Chairman at debt management specialists Chiltern said: “More needs to be done to provide students with sound debt advice and support before, during and after university.

“With the current economy making the jobs market seem less stable, many graduates may not get the jobs that they were hoping for and may be left riddled with debt for years to come.”

Students facing debt problems for years to come is a post from: The Debt People