Save £10,000 by studying in Scotland

Students choosing to go to university in Scotland can save £1,951 a year, meaning they will graduate with debts of less than £10,000 on average.

By contrast, many of the people heading to university for the first time this year in England will graduate in more than £20,000 worth of debt.

Those are the findings of the largest ever survey of student finance in the UK by university research firm Push, which shows student debt already tops £4,000 for each year of study on average.

"It's easy to become immune to stories about student debt, but this increase is not just another rise," said Johnny Rich, of Push.

"Some students are facing real financial hardship. Even so, the advantages of having a degree still vastly outweigh the costs and the Push survey shows that – with high quality advice and information – students can keep their debts down while still enjoying the benefits of university."

Scotland has the most generous university funding, meaning average debts are just £2,344 a year, meaning even after the standard four-year courses are taken account of projected debt on graduation for new students is under £10,000.

By contrast people studying in England rack up an average of £4,295 in debt a year. They have also seen the amount of debt they accrue rise 25.5 per cent compared with last year - the largest increase in the UK.

"Students face higher levels of debt than ever before and with the added pressures of escalating house prices and increased competition for graduate jobs, it’s essential that they find ways to keep their student debt to a minimum," said Catherine McGrath, Lloyds TSB, which works in association with Push.

"Good budgeting skills can really help students to start off on the right foot while they get to grips with managing their own money. A smart approach is to plan ahead and seek guidance now on how to manage your finances to avoid getting into trouble later on."