A new poll of 2,000 students has revealed that the majority are expecting to leave university with massive debts they will be unable to repay in the foreseeable future.

Nearly one third of those in the poll believed that they would be leaving university with more than £20,000 worth of debt. A quarter of those polled think that they will rack up debts of up to £15,000.

Only 7.5 per cent thought that they would not have any debt on completing their courses.

The report, commissioned by Endsleigh insurance, show that more than 8 per cent of those polled were planning their debt management so they can start repaying immediately after graduation.

Around a quarter of students thought it would take up to twenty years to repay their debts, while nearly 40 per cent believe it will take them around a decade.

The survey has also revealed that students are actively looking for debt solutions to minimise the debts they accrue. 38.9 per cent said they were planning to get a job whilst at university and a further quarter of students were also considering it.

James Crocker, a financial advisor with Endsleigh advised that the poll showed the demands that are put on today’s students:

"The results of the survey point to the increasing financial strain that today's student is under. In the short term students need to manage their finances as carefully as possible by creating a budget and sticking to it so as not to get into even more debt.”

He also said that students should try to avoid credit cards with high interest rates and avoid penalty charges by paying their bills on time. Mr. Crocker advised that sticking to a realistic budget would help students manage their finances.