IVA & Debt Consolidation Advice

Students about to begin their time at university have been given debt advice by the UK payments association (Apacs).

Launching a new guide, Cards and Students, Apacs has highlighted the importance of knowledge and planning in preventing future problems with debt.

According to Apacs, although only one in four (24 per cent) of those aged between 18 and 24-years-old have a credit card, there are still many students worried about their levels of debt.

"Nowadays, most students expect to be in debt when they graduate and whilst it might be impossible to avoid student loan debt, getting a handle on managing your finances can make the world of difference," said Sandra Quinn, director of communications at Apacs.

She added that the online guide was designed to be a checklist for students to enable them to make informed decisions about their personal finances.

Halifax has also warned students recently that ensuring you are getting the best borrowing rates can make a big difference to the accumulation of debt and how expensive it is to pay back.