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Student debts break £3 billion
- Student loan company shows a rise of over £620 million to more
than £3 billion
- Due to tuition fees (£3,ooo pa) and Tuition fees (£6,000 pa)
- Students could have debts of £30,000 when they leave Uni
- Not much consideration of the long term impact of this
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PricewaterhouseCoopers claims that Britons now
spend almost one fifth (19%) of our disposable income paying
off debts. This is even higher than at the start of the last
housing crash in 1989.
When the economy is in
recession it is quite difficult to get a loan even with a good
idea. When the economy is booming its is easy to get a loan,
even with a bad idea. It's never been easier to borrow money!
Funny how banks never learn this lesson (June 2007)
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