The University and College Union (UCU) yesterday warned against further increases to the cost of a university degree after a new survey revealed that student debt is already approaching £25,000.
The annual student survey from Push says that students who started university last year will graduate with debts of £23,200 – a 5.4 per cent increase on the previous year.
The researchers asked 2,000 students at 139 university campuses what debts they had amassed and were asked to include everything from tuition fees to credit card and bank debts, but to exclude mortgages.
Push found that students in England had an average debt of £5,293 per year, in Wales the average was £6,411, while in Northern Ireland it was £3,769.
In Scotland the average was £2,637, but home students pay a much-reduced fee and tend to study for four years.
In response to the findings, Push.co.uk editor Johnny Rich said: ‘We are at a crunch point for student debt.
‘Many talented potential students may shy away when they hear a degree will cost £25,000.’
He added: ‘The higher the cost gets, the more people will be put off.’
Commenting on the survey, UCU general secretary, Sally Hunt, said: ‘The current policy of burdening students with thousands of pounds of debts is a very unpopular one and has made university less attractive.
‘All the polling on the issue points to a general public who will not stomach students being hit with higher costs for a degree through increased fees or a bigger debt rebranded as a graduate tax.’
The latest figures come as Lord Browne prepares to report to the government in the autumn on his review of student fees.
Under current rules, students can claim a loan to cover the cost of tuition fees, plus extra for living costs. Loans begin to be repaid after a student graduates and is earning more than £15,000.
Ministers for the Tory coalition claim any policy changes to the system resulting from the report will take account of student debt.
A spokesman for the Department for Business, Innovation and Skills said: ‘A university degree is a very good investment in your future and it must be right that those who benefit contribute to the cost of their education.’
However, the UCU’s Hunt warned: ‘The simple test for students and their parents will be whether or not any new proposals lead to a degree costing more.
‘Graduates make an enormous contribution to our economy and society.
‘They pay more tax than the average person, are less likely to claim benefits or need our health service and will be central to helping Britain to recover from recession.’
Aaron Porter, president of the National Union of Students, noted: ‘Fees trebled three years ago, with no subsequent improvement in student satisfaction, and yet vice-chancellors now wish to more than double them again.
‘Universities should look at improving the student experience, and providing better financial advice and support, rather than spending their time lobbying to add over £10,000 to the average student’s debt.’
Pressure on places is likely to be more intense than ever ahead of the new academic year.
Many university courses are already full and with record numbers of people applying, some students may have to settle for courses and universities they would not otherwise choose.