63% OF STUDENTS WILL MOVE BANKS IF INTEREST FREE OVERDRAFTS ARE WITHDRAWN

-student-debt.org launches new guide to help students stay financially aware-

(London, 20/09/07) Student-debt.org, the financial advice website for students and graduates, has today released a student financial guide in response to both the results of its latest student banking survey and to the growing problem of student debt in the UK.

58% of students in the survey admitted to having an overdraft limit of over £1000. Of the 75% of respondents whose accounts were interest free, 63% percent said that they would move banks if the interest free facility was removed from the account.

The www.student-debt.org site also investigated which banks are most popular with students. HSBC dominated the poll with 30% using their student banking facilities. Alliance & Leicester was shown to be the least popular of the student banks with only 1% of students using the bank.

Top tips in the studentdebt.org guide include how to choose the right student bank account, alongside information on unsecured borrowing and management of household bills. The survey can be found and downloaded on the student-debt.org website, at: http://www.student-debt.org/student_finance.asp

Joe Kirby, student spokesperson for student-debt.org commented:

“With the growing problems with debt in the UK, the need to educate our students becomes vital. Education is the key to ensuring future generations do not have to suffer with debt in the UK. Students should be aware of the consequences of credit cards, overdrafts and over spending, but also be provided with the facilities to make informed decisions about their banking. Students are tomorrows generation of debtors, unless we help them now.”

- ENDS -

Notes to Editor:

About Student Debt.org

www.student-debt.org was created as a medium for current students and graduates to find out more about financial issues. Student-Debt.org originated from www.accommodationforstudents.com, the UKs No 1 student accommodation website, which receives a tremendous demand for debt solutions and finance management from the UK student population.

www.student-debt.org offers students and non-students a variety of information on money management and debt solutions. Its live forum offers experts advice on any questions or concerns about debt.

Student Debt Survey:

The www.student-debt.org survey was undertaken by 143 students nationwide between 10^th and 14^th September 2007.

Detailed figures available on request.

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