Financial news categories
Financial news archive
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
- December 2010
- November 2010
- October 2010
- September 2010
- August 2010
- July 2010
- June 2010
- May 2010
- April 2010
- March 2010
- February 2010
- January 2010
- December 2009
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
Students should choose accounts carefully
13 August 2008
Students need to be aware of the features of a bank account before they start their life at university, claims a national money education charity.
While some banks may offer free giveaways to entice savers, students should concentrate on things like attractive rates of interest and a free overdraft up to a certain amount, according to the Consumer Credit Counselling Service (CCCS).
Frances Walker, of the CCCS, said: "Common sense dictates that students shouldn't go for the gimmicks, the card that is offering the iPod."
Ms Walker claims that while students are likely to get into debt after leaving university they should opt for student bank accounts as they offer better rates of saving.
"Although we do see people in the aftermath of university who have run up debts before they can pay them back, it's not a big cause of debt frankly," she added.
Research by Push, the UK's leading independent resource for prospective students, revealed that student debt now tops £4,000 for each year of study.
