Ogden Research Report on student finances and debt

A research report commissioned by The Ogden Trust has revealed that its scholars graduate with average debt of £17,000 after a three-year course, and £23,600 at the end of a four-year course.  For those scholars currently at university, their anticipated debt on graduation averaged £27,700.
 
The Ogden Trust undergraduate scholars were polled over a four-week period during July/August 2009 by Jade Griffin, a Social Policy graduate from Anglia Ruskin University, and asked a series of questions about their finances and financial concerns.  When asked how important finance was in their decision to go to university, 96% said that finance was a major concern but did not affect their decision to go to university, 54% stated that finance was a factor when choosing which university (with 10% avoiding London due to expense) and 12% said that distance from home and cost of travel influenced their choice.  12% chose to attend their local university and live at home.  None of the respondents said that finance affected their choice of course (although some mentioned the additional cost of materials required on courses like engineering and medicine) and none said that the availability of bursaries specifically for science or mathematics influenced their choice. 
 
When asked if they undertook paid work during their university careers, 76% replied yes, of whom 58% worked in vacation time only, 32% worked both vacation and term time, and 10% worked only in term time.  Half of those who worked in vacation time obtained jobs which complemented their course and the other half worked as waiters or in shops.  Of those who worked during term time, the most popular employment was bar work.  Nearly all respondents said that their Ogden Trust Undergraduate Scholarships reduced or eliminated their need to work during term time.
 
In response to the final question about the cost of travel, 48% replied that travelling between university and home was a financial issue and 36% replied that daily term time travel was a cost issue, especially in winter, and especially in London.
 
The survey also asked questions about the scholars' use of The Ogden Trust alumni website and its e-mail facility (webALUMNUS).  The data obtained has been very useful in helping the Trust to determine the future development of the alumni website. 
 
Read the report