Graduates should find they have fewer problems getting personal loans and other forms of credit than most people despite the credit crunch, one expert believes.
According to Samantha Owens, head of credit cards and loans at Moneyfacts, those leaving university with a degree need not worry about being charged "ridiculously high rates" on personal loans.
She said: "At the end of the day, when graduates [enter the market] they've always been in debt - that's just part of going through university. They're not going to be judged the same as a 35 year-old who has tonnes of debt."
Ms Owens also said that as banks are keen to attract graduates, they will offer preferential rates on personal loans.
According to figures released by debt charity Credit Action, the average graduate debt in the UK fell for the first time in six years in 2007.
Graduates leaving university now owe an average of £12,363 with more than half of people leaving university with debts of more than £10,000.
Graduates still get good personal loan rates
Graduates still get good personal loan rates
Tue, 04 Mar 2008
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