UK Money News
1st February 2008
Graduate debt 'could affect job prospects'
Graduates who have defaulted on debts could be jeopardising their job prospects, it has been claimed.
Recent estimates from credit agency Equifax indicate that the average undergraduate entering university this year could have accrued debts of up to £30,000 by the time they finish their course in 2012.
Defaulting on these could serious consequences not just financially but could also affect their chances for jobs, particularly those in the financial sector, Neil Munroe, external affairs director at Equifax, said.
To this end, it is imperative that the "first thing" graduates do when they leave college is check their credit rating to "see what's on there", Mr Munroe warned.
He explained: "There may be some jobs which are financially based or have other sensitivities, where an employer may ask you if you can check your credit file. So again, it's not just for credit, [credit history] may affect job applications and the like."
"If you're going into a position where there's finance involved, it would probably seem appropriate that the employer checks your credit history."
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