Jun 17, 2016 08:49 AM EDT
Student Debts in America: Lower than in UK but US Grads Struggle More to Repay Loans
Student debts in America are not as high as student debts recorded in UK. The statistic data revealed English graduates have to carry heavy debts of £44,000.
The Sutton Trust who released the report, conducted a thorough research by comparing students' tuition funding in Anglophone countries such as Australia, US, UK, Canada, and New Zealand. The finding ranks UK as the first English-speaking country to have the student burdened with debts even after leaving the universities, the Sutton Trust reported.
Students debts in America are still lower in total even after the comparison included US private for-profit universities. The result claims that English students face bigger amount of debt than US students. This leads to an even higher debt amounts after they graduate.
Annual survey conducted in 30 countries reported that England's tuition fees are the highest of all. England debt levels are 'more than double average debt levels at universities in the US'. This means, student debts in America only comprise 65 percent of the student debts in UK. However, England students manage to pay back what they have owed due to the clear repayment conditions compared to the other English-speaking countries. This system does give benefits to the students' loan repayment. According to the report's lead author, UK system enables students to have better repayment methods than of those in the US, The Guardian reported.
Hence, student debts in America is at a worrying level since many of the graduates are not making any income to pay the loans to governments, Wall Street Journal reported.
The report suggests UK universities to pay more attention to students who have poorer backgrounds and are 'disproportionately underrepresented'. Students have to be able to afford mortgage and other major life needs. The report also said that Canadian students have the lowest debt level with just £15,000.
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