UK Money News
4th March 2008
Graduates 'not a risky proposition' for lenders
Graduates battling with debts have been told not to worry about their credit rating and ability to secure loans.
With student debt emerging as one of the top debt issues in recent decades, the signs of an impending financial crisis in the shape of the credit crunch has caused concern in some quarters that they may be facing difficult times ahead.
However, a spokeswoman for Moneyfacts, a credit card and loans site, has said that graduates remain an attractive proposition for the average lender.
Samantha Owens explained that "different risk factors" were applied for graduates: "Whereas in the standard loans market we've seen rates increasing and loan companies tightening up who they're going to offer loans to, [with graduates] they've already got their select market and believe that they're a good prospect in the long run."
"So we wouldn't expect to see the student and graduate current accounts, say, cutting back on overdrafts or that kind of thing. They're going to be quite static."
Students in the UK typically leave university with debts of around £12,000, according to debt charity Credit Action.
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