From The BBC:
More than half of students in Scotland have borrowed from commercial lenders such as banks or credit card companies, according a survey.It suggested 70% spent more than the recommended 10 hours a week in paid work to fund their studies. The National Union of Students in Scotland, which questioned 6,217 people, called for the government to improve financial support. The Scottish Government said it had already taken steps to help students. The survey indicated 52% of students had used commercial lenders, 67% owed money to family or friends, 61% had taken out student loans and 31% owed money to all three. While historically low interest rates had helped with repayments to the Student Loans Company, which runs the student loan scheme, interest rates with other lenders remained comparatively high.
The survey claimed 44% of university graduates, 38% of postgraduates and 31% of college students considered commercial loans their “biggest concern”. Claire Rackley, 23, who has just completed an…
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