Latest Debt News
Student possessions 'equal student debt'
29/09/2006 17:49:00
Possessions like iPods and laptops which fill a student's residence are worth almost the amount of the average student debt, according to new data from Legal & General.
In a survey, full-time students have guessed that the contents of their homes are collectively worth about £13,358.
This figure is almost equivalent to the average student debt, which currently stands at £13,252.
A full 32 per cent of full-time students bought a piece of electrical equipment in the last three months, the survey found.
Andy Dawson, operations director at Legal & General's general insurance business, said: "Today's students are more attuned to the benefits of modern technology and so have some high value consumer goods such as a computer or laptop and a mobile phone.
"In addition, most have their own TV and DVDs so the value of their belongings can soon mount up."
Some insurance cover has limits for expensive items that are likely to be stolen, so it is worth it for students to check their home insurance polices, Mr Dawson added.
Recent data collected by student-debt.org found that uncontrollable debt is responsible for 50 per cent of student drop-outs.
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