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The increasing cost of university is making it even harder for graduates to get
onto the property ladder.
New research by Newcastle Building Society shows that graduates could face a
significant disadvantage when trying to get their first foot on the property
ladder.
From September 2006 universities in England and Northern Ireland can charge
tuition fees of up to £3,000 a year, representing a 155% increase what is paid
currently.
When added to other costs, this year’s new students are set to rack up some
£30,105 in debt, National Union of Students figures show.
This means graduate debt will eclipse the average deposit for a first-time buyer
home.
Steve Urwin, of Newcastle Building Society' explained: "Student debt is clearly
a growing issue which has a knock on effect later in life.
"Higher tuition fees can only increase the burden on the younger generation and
make it even harder for them to enter the property market,"
Source:
Getting Paid
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