Financial Burden Of Student Loans Affecting Graduates Career Choice

Wed, 01 Oct 2008

A new study has revealed that an increasing number of graduates are prepared to put salary ahead of job satisfaction as they struggle to pay off their student loans .

A survey by careers website Experience.com found that 50 per cent of university students would sacrifice job enjoyment for higher salary, while 40 per cent confirmed they had already taken the step.

The findings are an indication that the financial burden of student loans is affecting the career choice of a growing number of graduates – a factor that is causing concern among some industry professionals.

Students currently have to pay £3,225 in tuition fees for university courses in England and Wales . Those living away from home outside of London are entitled to a loan of £4,745, while students in London are eligible to receive up to £6,643.

Commenting on the research, Jenny Floren, chief executive of Experience.com, said: "This is just another aspect of financial constraints on individuals; in this case, students are the ones that are being affected and are finding out that they have to make changes to life time plans."
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