Graduates who have just left university are facing a massive debt burden, it has been claimed. In news which may prompt graduates to ramp up their job search, uSwitch has pointed out that student debt has increased by 167 per cent during the past decade. Graduate salaries have risen by 51 per cent over the same time period, the independent price comparison site added. Mike Naylor, personal finance expert at uSwitch.com, said: "The cost of attending university has risen over time, partly due to increased tuition fees and, to a lesser extent, due to increased housing costs. "As a result, more money than ever is being borrowed by students to fund their way through university, with some students starting work with debts of up to £30,000." He cited figures from Opinionpanel which stated that 17 per cent of students will graduate with an average debt of £11,000. In a Money Week article, expert Merryn Somerset Webb recently advised job candidates to be hesitant about accepting the first salary they are offered.
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