Student debts have now reached £22 billion, up £4 billion in just a year, according to new reports. This figure is £1billion more than the Government’s entire transport budget!

The NUS (National Union of Students) have warned that students will graduate from university with debts of up to £40,000, and the worries are that these debt levels could limit the life options for many graduates, meaning that many graduates could be seeking additional debt advice as they try to secure their future.

Universities spokesman for the Liberal Democrats, Stephen Williams, said: “Students are facing unprecedented levels of debt, which will have a dramatic long-term effect on their ability to buy homes, start families and save for old age.”