Student Credit Card Debt

Although students may get a student loan through their local authority to help them fund their education, this may not be enough as more students are racking up credit card debt.

The average student now owes over £220 on their credit card, and females are the worst culprits for getting into debt. According to research by Halifax, those attending University may need help to manage debt as 80% have a loan, 64% have an overdraft and 37% have a credit card.

Credit card debt for students is the most popular in Scotland, where 44% of all students have at least one.