This research comes after recent student loan reforms that could mean incoming students will have to repay around £400 more each year after graduating, with this number rising to £750 for next year’s entrants. New research conducted by Equifax suggests this is partly because student loans are acting as a “gateway to more millennial debt.”Ĥ7 per cent of students said they’re more comfortable with borrowing, while 39 per cent are more likely to borrow because they have already taken out student loans. Those who went to university owe on average £12,445 (not including their student loan repayments) compared to £7,105 for those who didn’t pursue higher education. And that’s not even taking into account student loan debt. Uni students and graduates under 40 have almost double the amount of debt compared to people who didn’t attend uni.
