1 in 3 students who borrow money to fund studies 'have a credit card'
Over a third of students who borrow money to fund their time at university have a credit card, according to new research.
1 in 3 students who borrow money to fund studies 'have a credit card'”
According to credit card provider Halifax, 36% of students who borrowed money said they had a credit card, while a student loan was still the most commonly held form of borrowing, with 84% of students saying they had a loan.
The Halifax survey also found 59% of students say they will be receiving funding from the government this year for their studies, an increase from 49% the previous year.
Current account director for Halifax Mike Regnier said most students need to borrow money to fund university, according to the research.
"However, some careful financial planning can help reduce both the level and the cost of this debt. Setting a budget and sticking to it is essential.
"Making sure you keep the cost of any debt to a minimum is also a must," he advised.
Earlier this week, leader of the Conservative Party David Cameron pledged to make 10,000 more university places available next year if the party is elected.
He stated the extra places would be paid for by introducing an early repayment bonus for existing graduates.
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