If you’ve spent the last 4 years of your life slogging away at university, attending lectures, and cramming for exams, you’ll be able to relate to the feeling of pure elation that most graduates feel, when they are finally handed their degree. However, another increasingly common feeling amongst graduates is that of absolute disdain, in finally having to deal with the mountain of debt that they have accumulated along the way.

And what a mountain postgraduate debt has become! According to recent studies by the National Students Union, today’s graduate has racked up average debts in excess of 30,000 pounds. It is thought that rising tuition fees coupled with increasingly expensive student accommodation is pushing the average post graduate debt through the roof.

As a result, a number of UK debt management firms are seeing a stark rise in the amount of graduates appearing on their books, seeking help through informal debt management plans and even IVA’s.

The National Students Union has suggested that such debts are becoming a serious hindrance for many post graduates, with a large majority unable to get a foot on the property ladder due to zero deposits, which in turn is affecting job opportunities and career progression. It has also been reported that a number of students are unable to complete their course due to mounting financial pressures.

The society has called for the current student credit system to be reviewed, and to offer more favourable terms to students in order to curb such debts. In other news, Gordon Brown has recently been central to much criticism, following on from his decision to sell part of the student loan book into the private sector.