A new world of university life is shortly set to open up for thousands of teenagers.
Most new students realise they’ll leave university with a loan they’ll spend years having to pay back once they’ve made it into the world of work.
But new research shows that new graduates will face average debt levels over a third of the average outstanding mortgage.
By the time they start paying back their loans – maintenance and tuition fees – their debts will be well in excess of £41,000, according to The Money Charity, which is 35% of the average outstanding mortgage (£117,162).
And how you manage any credit you have now can affect your chance of getting credit in the future.