Reality check for graduates

The Independent on Sunday told this summer’s graduates to get on the case in sorting out their finances.

First step is to sort the bank account – some banks automatically shift graduates to a special type of account with an automatic interest-free overdraft, but others don’t, even though all banks do have special accounts for new graduates offering not just interest-free overdrafts but other goodies.

Student loan repayments don’t start until you’re earning over £21,000 but after that they’re automatically collected via the employer’s payroll system.

Steve Clark

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