Medical Students Struggling With Rising Debts

Fri, 03 Apr 2009

Medical students in the UK are struggling to cope with mounting debts, new research has revealed.

A study of more than 2,200 students, carried out by the British Medical Association (BMA), found 96.4 per cent had some level of debt in the form of student loans, credit cards, bank loans, or overdrafts .

The study revealed that students who graduated in 2008 had debts of £18,000 on average, with 20 per cent owing more than £25,000.

But the BMA warned that the situation could become much worse if the current cap on tuition fees is lifted.

Students in their first year of study already have the highest average amount of tuition fees for one year, at £2,531, alongside an average maintenance loan debt of £3,591.

However, the union said that a rise in tuition fees would mean students starting their courses in 2010 could graduate with debts of £37,000, while those based in London could owe a staggering £67,000 by the time they finish their course.

The BMA study also found that medical students were receiving annual handouts worth £3,050 on average from their parents to help them cope with rising student costs .
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