“Banking Reforms to Hit Future Graduates”, says Student Newspaper

banking reforms, student tuition fees
Written by Faizan Patankar

The Mancunian, Britain’s biggest student newspaper, serving Greater Manchester, reports ring-fencing the retail arms of thebanking reforms, student tuition fees UK banks from their investment sides will increase the cost to present students in the future when the costs thrust upon the banks are funnelled down to consumers, a large population of which would be those who are students right now.

the costs of implementing the reforms-(estimated at an annual cost of £4bn-£7bn) and the increasing capital requirements will likely feed in to the price of borrowing in the future. By 2019, potential first time buyers may experience greater difficulty gaining mortgages; graduate entrepreneurs seeking start up capital may struggle too. Such factors could generate stutters in the economy.

There are also premonitions of an end to fee-free banking. Currently, roughly half of all current accounts charge a monthly fee, but free current account facilities may see their demise if the cost of reform is passed on to high-street customers.

Read the full story here.

(Image credit: The Mancunian)

About the author

Faizan Patankar

I started Career Geek Blog in 2011 to share my experience in job-hunting. I now focus on careers industry and blogging is just a tool to share that info. Love hacking careers. During the day I focus on my hobby - Engineering.