Abigail MeadowNovember 5th
2019

Students have said they are willing to go to extreme lengths to eliminate their student debt.

According to Which? University, the average student in England will graduate with debts of over £50,000 and the majority of people with a degree see their debt as an inescapable financial burden that negatively affects their everyday life, according to a study of 1,000 undergraduate and 1,000 postgraduate degree holders conducted by OnePoll on behalf of Splash Financial.

89% of those surveyed see their debt as a financial burden (...shout out to the 11%, if you wanna link me some wonga that would be pretty sweet) and 82% said their debt is affecting major life decisions.

StudentDebtStressFacebookThumb

Debt is a huge concern for most graduates and clearly has an affect on a graduates mental health as 'frustrated’ and ‘worried’ were the top words used to describe feelings about student loan debt.

The poll even showed how students are willing to go to drastic measures to get rid of student loan debt as 39% said they would spend a week in jail if it meant their debt was wiped and 40% said they would relive high school.

With house prices skyrocketing 43% of graduates with student loans called buying a house a financial impossibility and 43% said their loans meant they couldn’t save for retirement.

DebtStress

The CEO of Splash Financial said; "These survey findings support the fact that the burden of student loans negatively impacts a person’s financial well-being and it often seems inescapable.

"From grocery shopping to relationship building, it is shaping everyday life. If we’re not careful, it could have massive cultural implications."

970x250-leaderboard

TOTUM is the #1 student discount card and app giving you access to exclusive student deals on food and fashion, tech and travel and everything in between.

In store and online, TOTUM puts all the best student coupons, vouchers and discounts right where you want them - in your pocket

Stories like this

TOTUM and TOTUM PRO Cards

HAVE YOU GOT IT YET?

TOTUM is the #1 student discount card and app giving you access to exclusive student deals on food and fashion, tech and travel and everything in between. In store and online, TOTUM puts all the best student coupons, vouchers and discounts right where you want them - in your pocket.

GET YOUR CARD