Graduates 'still likely to get good loan rates'

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Graduates 'still likely to get good loan rates'

Mon 3rd Mar 2008

Despite the current economic climate, graduates should not have too many problems getting loans with good rates, it has been suggested.

Loans for this group are different than those in "the standard market", according to Samantha Owens, head of credit cards and loans at Moneyfacts.

She said that even though the credit market has been squeezed overall, certain groups such as graduates will suffer.

Many providers are attempting to draw the graduate market by offering rates that are "slightly more preferential" than normal, she explained.

"We don't see any market contraction for graduates, and they shouldn't be concerned about ridiculously high rates, or trouble getting any credit," Ms Owens concluded.

The average graduate debt in the UK has fallen for the first time in six years, according to figures from Credit Action.

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