The survey, Overstretched and Overdrawn, conducted by NUS Scotland to look at the impact of the credit crunch on students this summer, also highlights the numbers of students working long hours to try to minimise their overdrafts and credit card debts.
The main findings of the survey include:
- More than half of the students surveyed are in commercial debt, and two thirds are in debt to friends and family;
- Students from poorer backgrounds are more likely to be concerned about commercial debt, with young students being less afraid of debt than mature students;
- More than half of the students surveyed were in work, with 70 per cent of these working more than the recommended 10 hours a week during term-time;
- Students who are in commercial debt are more likely to be in work than other students.
NUS Scotland President, Liam Burns, said “Our survey has clearly shown that the Government is absolutely right to be concerned about student debt, but the subtlety of what kind of debt will determine whether this Government delivers for students or not. In the reality of the limited amount of support being offered, simply moving from loans to grants is not what is needed. Far worse is the social injustice that would be reinforced if commercial debt is not dealt with, as poorer students are more afraid of commercial debt than those of a luckier background.
“Our response to the Government’s consultation on additional student support not only provides grants to the very poorest students and support for student parents, but it starts us on a road to dealing with the reality of the current economic climate for students in alleviating commercial debt, and stopping Scotland’s students from becoming even more overdrawn and overstretched.”
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