A survey by Push - a university media organisation - has shown that student fees are set to rise to over £50,000 for students starting their courses next year.
Students starting their courses this year can expect to graduate with a £26,100 debt and current leavers will owe £17,040. However, when the coalition's higher costs come in next year, this sum will soar to £53,400. In England the average graduate will owe £59,100 - seven per cent of which is owed to a bank or credit card company - according to the survey.
Currently, the average graduate salary is £25,000, and unemployment amongst graduates stands at nine per cent - higher than the national average of 7.7 per cent. Graduates are expected to start repaying their loans once they are earning over £21,000.
University application rates were at a record high this year, with the University Central Administration Service (UCAS) reporting a 2.5 per cent increase in applications. Push reports that 150,000 applicants are not expected to make their places this year, meaning thousands of students who were expecting 2011 fees will instead have to pay the increased amount. Many analysts have identified higher tuition fees for the surge in applicants hoping to enrol before the 2012 fees come in.
Earlier this year, the opposition Leader, Ed Miliband, warned that rising tuition fees would deter students - especially those from poorer backgrounds - from applying to university. The Coalition has denied that this is the case, and has also alleged that most universities will not charge the maximum £9,000 a year tuition fees.
Higher costs of living and fewer part time job opportunities have compounded the problem of student debt, with many students living on overdrafts or money from family members.