* Average graduate debt - approx £15,000, rising to almost £20,000 for London students
* A survey by the Financial Services Authority has shown that 34.4% of those who considered dropping out of university did so because of financial difficulties.
These statistics highlight financial struggle which many students face to obtain their degree. This sad reality faces every student in the UK. What’s scary is that these figures, especially in today’s financial climate, are on the rise. Another statistic does however present us with a potential solution - 80% of young people aged 18-24 don't keep a budget.This is where Debt Doctors comes in!
We have identified 29 further education establishments within Greater London that we will initially approach. Our plan is to provide workshops, seminars and presentations to 1st year students at three key points in the academic year. This will be at the start of each term which will coincide with their next instalment of funding. The idea is to follow-up on the students and also answer any queries that have since arisen. In year two we aim to do the same but also work in other counties in England. Year three will be nationwide, covering England, Scotland, Wales and Northern Ireland.
DDUK appreciates that the universities student advisory services do the best they can, but statistics and students will tell you this is simply not working. We propose to deliver workshops, seminars and presentations to educate new university students on how to save and budget their grants and bursaries.
In keeping with the Doctors Doctor’s ethos, each workshop will be bespoke and unique as well as innovative and contemporary. We look to engage students by interacting with them using relevant media and technology. Topics will include food, night life, education, accommodation, holidays, travel and shopping. We will provide practical solutions regarding budgeting and some hard hitting facts about the potential pit-falls and life after university but we will also give students advice on cheap nights out, information on hidden student discounts and many other fun and useful ideas on how to live on a budget without sacrificing a typical ‘student lifestyle’ experience.
To Summarise – Through a combination of presentations, seminars and workshops - Debt Doctors wants to help students gain valuable lessons for life and make the most of their education. We believe that all students no matter what their backgrounds are can survive by implementing proper budgeting techniques.