Cardiff Central’s Liberal Democrat MP, Jenny Willot, has warned about the dangers of student debt after a report by the National Union of Students (NUS) revealed a ‘dramatic’ increase in student accommodation costs in Wales, politics.co.uk reports.

The research found that the cost of student rent in Wales has increased by 18.5% over the past three years, leaving the average cost of rent per student in Wales at £79.40 per week.

Wes Streeting, President of the NUS, said: “Students are already graduating with tens of thousands of pounds of debt, and soaring accommodation costs will only make the situation worse. With graduate job prospects at an all-time low, things are looking very bleak for many students.”

An IVA expert for the IVA Forum commented: “Further to what Mr. Streeting has said, we would recommend that any student (or any borrower for that matter) who finds themselves in financial difficulties gets some debt advice as soon as possible.”