Getting into a worrying amount of debt is, sadly, part and parcel of getting an advanced education for many people these days. Rocketing student fees has meant that those wishing to go to university and better their educations have to resign themselves to the fact that they will be paying off debt for many years after leaving university.

However, previously students were able to justify being in debt for years after leaving university by the fact that they would be able to get a good, well paid job after leaving university, which would effectively help them to repay their student debt. In the current climate many students do not have the luxury of being able to count on a good, well paid job despite the fact that they may have a degree.

For many people that have left university debt has taken over the lives, resulting in their having to put many things on hold in order to focus on their debts. Uswitch.com carried out research that showed how almost 60 percent of students had been unable to save money because of their debts. The research also showed that close to 50 percent had been forced to put off buying a home.

Debt is affecting students in many others ways when it comes to living their lives. For example, nearly 30 percent had been unable to start a pension when they wanted to. Even getting married has had to be pushed to the back burner, with around 30 percent putting off plans for marriage because of their debts.

One official said: “The fact that graduates have to put their life on hold because they are knee deep in student debt is a sorry state of affairs. And as fees go up, students risk running up even bigger debts. But without a degree, getting a job in today’s stagnant market may be even harder.”