Living independently can help young people to become aware of financial issues, it has been claimed.

Alastair Mathews, director of policy for the Personal Finance Education Group, suggests that attending university may be as useful as entering the world of work directly from school.

Real-world experience can be attained without needing to enter employment, he contends.

But a recent survey conducted by NatWest and admissions service Ucas reveals that the typical graduate owes £12,363 when they leave university.

With this potentially including credit cards and high-interest store cards, a debt consolidation loan could be required to regain a secure financial footing.

But Mr Mathews rejects the suggestion that going straight into work is the best option for school leavers: "I think they could do either, it depends on their attitude.

"At university they've got to live independently as well and make all sorts of decisions about buying, spending and saving for future needs."

For graduates with a worse financial situation than expected, a debt consolidation loan could be the first step towards a more positive monetary outlook.ADNFCR-1287-ID-18336083-ADNFCR

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