IVA & Debt Consolidation Advice

As graduates have increasing trouble finding well paying jobs, a debt consolidation loan could be the answer to keep financial worries at bay.

Figures from the Higher Education Statistics Agency (Hesa) indicate that some 34.4 per cent of British students graduating in 2005 went in to work where a degree was not required.

With rising debts due to the advent of tuition fees, many graduates who are not earning a graduate wage may wish to take out a debt consolidation loan while they get their finances in order.

"These figures will worry students and make them think again about whether they want to take on that debt," warned NUS vice-president Wes Streeting, although those aware of the possibilities of taking out a debt consolidation loan will likely be happier to head to university.

Many recent graduates are thought to be working in bars or stacking shelves either due to a lack of jobs in their chosen profession or an uncertainty as to which career path to take.

For those still considering their options, debt consolidation is a great way to bide some time until beginning the long ascent of the career ladder.