What's the True Impact of Debt?
£1.4trillion. That's the staggering figure attributed to the level of household debt in the UK.01 April 2014
£1.4trillion. That's the staggering figure attributed to the level of household debt in the UK. The average student now leaves university after three years with £20,000 worth of debt - before they have even got their foot on the first rung of the career ladder.
But describing debt in numbers alone overlooks the fact that there is nothing intrinsic to having a lot of debt that makes it harmful - and debts like mortgages and student loans highlight the limitations of measuring the depth of the debt crisis by size of debt alone.