A ten percent rise in annual debt levels has been marked by the latest student finance study.
Around £17,500 of debt is being accumulated by students who began their courses last year, the annual Push.co.uk survey has shown.
According to the data, around £4,500 is built up by each budding academic for every year that they study at university. Disturbingly, this total has increased by ten percent over the past year alone.
The increase in living costs over recent months, including noticeable price rises in rents, food and fuel, has been blamed for the rising debt burden. Indeed, official government inflation figures released earlier this week show that the current rate of price rises is at a 16-year high.
Speaking to the BBC, Johnny Rich at Push.co.uk commented: "It's easy to become immune to stories about student debt, but this increase is not just another rise. Some students are facing real financial hardship. Even so the advantages of having a degree still outweigh the costs…students can keep their debts while still enjoying the benefits of university."
Wes Streeting, president of the National Union of Students, added: "As the credit crunch kicks in, and with food and fuel costs set to rise even further, we can expect more and more students to get into serious financial difficulty."
