Students graduating in 2009 face unprecedented levels of debt and will struggle to find employment in the contracting economy.

The introduction of top-up fees in 2006 along with the rising cost of living will mean that this year’s finalists will graduate with the highest level of student debt ever seen in the UK.

According to a survey conducted by the independent university guide Push.co.uk in August 2008, Oxford students will graduate with an average debt of £12,311.

On top of this, the Student Loan Company doubled its interest rate to 4.8% earlier this year, bringing it to its highest level since 1991.

Loan repayments are collected as a percentage of post-graduation salaries over £15,000, meaning that finding a well-paid job straight from university is absolutely essential for many students.

However, the global economic downturn of the past few months has meant that the graduate job market is contracting. Companies are being forced to merge in order to bring down their fixed costs, and as a result fewer graduate positions are on offer.

Trinity Mirror plc, which publishes the Daily Mirror and the Sunday Mirror as well as over 150 regional newspapers, announced earlier this year that it had cancelled its graduate scheme, and that recruitment would not recommence for the foreseeable future.

The financial world has seen the biggest reductions in graduate positions.

A recent survey by the Income Data Services suggested that financial firms are expected to employ 14.7% fewer graduates this year.

Growth in the graduate job market as a whole is expected to fall sharply compared to this time last year, with many companies explicitly citing the credit crunch as the cause of this reduction.

We spoke to an employee who recently joined Lehman Brothers. She explained the state of affairs within the industry and added that like in all previous recessions, graduate recruitment across the financial sector is going to shrink.

However, companies will always aim to avoid rescinding graduate offers because of the negative message this sends to campuses.

She explained that banks and financial institiutions have made redundancies at every level over the last few months and there may be more to come.

She continued, “Banks don’t want to lose juniors as they are the future of the company, but sometimes it’s the only way to cut costs.”

Chris Stainton, an Oxford graduate who set up UniVentures, a recruitment consultancy and marketing agency in April 2007, echoed this, saying, “the banking job market has clearly tightened.

“Graduate recruiters always respond to business need – the message on worsening market conditions has certainly filtered through, and as a result, banks are focused on recruiting interns rather than full time analysts.”

Mergers have affected a large number of financial organisations in the past couple of months, and fewer graduate positions will be offered in the sector as a result.

However, our interviewee maintained that prospective candidates shouldn’t be discouraged.

She said, “It’s actually a not a bad time to start out in banking. Because of all the redundancies higher up, graduates starting next year are likely to be given more responsibility than they might have otherwise had.

“It will be more competitive, but if you’re really interested in the job this is a fascinating time to be in the sector. Recession is like a rite of passage for a banker.”

Beating the Crunch in 2009

While competition is necessarily going to be much fiercer for this year’s graduate intake, there are steps that Oxford students can take to improve their chances. For those wanting to get into finance, our interviewee’s recommendation is to be willing to move out of Europe.

“Many banks and private equity funds are still hiring in Dubai and Asia, so being willing to move there for a few years will probably help your application.”

Moving to Dubai has other advantages – the tax burden is much less and living costs are significantly lower than in the UK.

Jonathan Black, Director of the Oxford Careers Service, commented that “in this situation there is no space for students to be complacent – but then there never really was.” He went to say that “While certain things are outside our control, employers are going to be interested in how you deal with bad situations.”

He urged students not to be discouraged or anxious about the current graduate job market, and to approach their applications with confidence.

“Focus on fewer applications, but really concentrate on them. In general, students need to take more care over this process – a leading recruiter told me just the other day that they have to reject 25% of applications purely because of stupid mistakes.”

With fewer vacancies available, the importance of networking has never been greater.

Jonathan advocates a concerted campaign of what he terms ‘information interviewing’ – a process of sending out letters and emails asking for further information on the sector to key individuals that can often result in a positive outcome. “People never believe me, but it really does work. Extra efforts to be courteous like handwritten thank-you letters can make all the difference.”

The Careers Service will be launching a new website later in the term which will allow students to post their CVs online and match them up with recruiters’ profiles. In such an uncertain and difficult time, every increment can make a difference.

• Be prepared to move out of Europe. Lehman’s didn’t fire anyone in the Dubai office so be willing to move out to the Middle East

• Don’t be discouraged, employers will be interested in how you deal with bad situations

• Approach applications with confidence

• Focus on fewer applications, but really concentrate on them. In general, students need to concentrate more over this process

Oxford University plans to spend half a billion pounds on a radical new plan to create a campus on the site of the old Radcliffe Infirmary.

Described as its most ambitious project in recent history, the design is set to be one of the biggest investments in the history of the University, with the site alone costing £45 million.

The University scrapped earlier plans to build a “sweeping boulevard” from the site to the University Press building, as this was deemed against the character of central Oxford. The Woodstock road site has been reduced to rubble in preparation for development by next spring. The first buildings expect to open in late 2011.

The new campus represents a major departure from the current collegiate system. The University is keen to stress that the plans are meant to complement college facilities “both academically and architecturally,” but that the development represents the most radical attempt to create a general campus “since Thomas Bodley designed his famous library in 1602.”

“Crucial for the future”

According to Luke Purser, the humanities head of development, it will include a large Mathematics institute, along with several buildings devoted to the humanities and two underground libraries.

The plans will be reviewed by the strategic development committee of the council this November. They form the first stage in Oxford’s plan for renovation. A University spokesperson said, “This is an exciting development which will be crucial for the University’s future.”

He added that the proposals have considered local opinion, “after extensive public consultation, the reaction from people has been generally supportive.”

It forms the first result of an appeal for funds to regenerate Oxford’s facilities that was announced earlier this year.

The trial of an animal rights activist accused of conspiracy to burn down parts of Oxford University collapsed yesterday after the jury failed to reach a verdict.

Supporters of Mel Broughton wept in court as he was found not guilty of possessing an explosive substance with intent – despite him having packets of sparklers hidden in his home.

The jury failed to reach a verdict on the two other charges against the 48-year-old however; of conspiracy to commit arson, and possession of an article or articles with intent to damage or destroy property.

Broughton had been on trial at Oxford Crown Court for the previous two weeks on charges of waging a ‘terrorist campaign’ against the University’s plans to build a controversial animal testing laboratory.

A re-trial is now expected to take place early next year.

The charges related to a fire that ripped through a sports pavilion owned by The Queen’s College in 2006. Two other unexploded bombs were also found underneath a portacabin used by the then Templeton College, in February 2007.

Broughton, aged 48 years, was charged after the seemingly innocent items were found concealed in an old water tank in a shared bathroom at his home.

Police claimed they were to be used in attacks on the two Oxford colleges in protest at the building of the controversial research laboratory in South Parks Road.

During the trial, Broughton admitted the sparklers were his and that he had hidden them away.

The outspoken veteran activist claimed he was under such intense pressure and monitoring by police that he was paranoid and not thinking straight when he concealed them.

He had bought the sparklers from a firework shop near his home, in Northampton, with the aim of using them at one of the weekly protest vigils at the lab site in Oxford, he told the court.

He explained to the jury that he was “too high-profile” to risk carrying out the attacks as he was a well known activist.

His defence barrister David Bentley also said that the police had been waging a “dirty war” against his client.

Prosecuting, John Price, told Oxford Crown Court that Broughton was the founder and “a leading light” in the protest group SPEAK, labelling him as a self proclaimed animal rights “fanatic.”

However, after nine hours and 28 minutes of deliberations, the jury returned the not guilty verdict on count three.

Judge Patrick Eccles QC asked the foreman if further time would help the jury reach a verdict on the remaining two charges to which the foreman replied that it would not.

The judge told the jury: “I am going to discharge you from returning any further verdicts.”

Prosecuting, Ian Hope, asked the judge for a retrial on the two remaining counts, which is expected to take place in the new year.

Supporters and members of Broughton’s family gasped as the not guilty verdict was read out and one female in the public gallery burst into tears.

Broughton, of Semilong Road, Northampton, was remanded in custody for a further hearing at Oxford Crown Court within the next two weeks.

Defending, David Bentley, said he would like his client’s custody reviewed at the next hearing, in the light of the jury’s not-guilty verdict.

Three rugby players from Queen’s College have been injured following a violent rugby match against Magdalen this week, with one player having to have metal plates set in his jaw.

Jonty Strachan, has had to have metal plates set into his jaw, Tom Nash has broken his leg while another player, James Thompson has broken his nose.

Queen’s lost the match 6 – 3 and JCR president Strachan puts this down to the “series of unfortunate events” debilitating the three players.

He described the game as “very close” with “just bad luck” playing a big role in this “very bloody match” which perhaps they could have “easily won” were it not for the injuries.

He added that despite what may be assumed there was “not a physical mismatch” and Magdalen were not being excessively aggressive.

Strachan has had to take time off from all duties to recover at home after having already spent a few nights at the John Radcliffe Hospital.

The injury itself came as he attempted a tackle, his jaw colliding with the opponent’s knee. James Thompson described the surgery on his team-mate as “serious”.

Doctors used plates to repair Strachan’s jaw which had split down the front and had to wire his cheeks; he also lost a few teeth.

Thompson also describes the match as “close-scoring” despite being a “bit bloody” and puts the loss down to a lack of shape and structure after Strachan’s hospitalisation.

He himself is unsure what caused his broken nose, which came two minutes before Strachan’s “more serious” accident.

The catalogue of injuries grew with Tom Nash. His injury came as a player fell on him, yet it was only after being sent off half an hour later did he realise his leg was broken. He is now on crutches.

The Queen’s captain called the match “tight” and “well contested” despite what may appear to be a bloodbath.

Moreover, he described the “good sportsmanship” of the players in a game that was “great to watch” and enjoyable to play in.

He did, however, express the opinion that the professional referee “wasn’t very good” and, although Magdalen would probably disagree, he felt that he “changed his mind quite a lot”.

This week, OUSU have voted to introduce a new format for presidential elections.

The proposals, which are to be adopted from Friday of 5th week, will introduce alternative hustings consisting of a three-minute speech from all candidates, followed by questions from each other and the floor.

Lewis Iwu, current OUSU president, said that he “wholeheartedly supported” the rule change. He said, “When I ran for president, candidates would either use questions posed to them to either have a dig at other candidates, or not answer the question at all. Some candidates even planted questions in the audience.”

An Oxford University graduate became the world’s youngest monarch on Thursday.

King Jigme Khesar Namgyel Wangchuck, who – rather conveniently – studied politics and international relations while at Oxford, is newly-crowned king of the remote country of Bhutan at the age of only 28.

The lavish ceremony took place in royal palace in the capital, Thimphu. Thousands of international dignitaries flocked to the occasion, including India’s President, Pratibha Patil, governing Congress party leader Sonia Gandhi and various Bollywood stars.

Dr Henry Reece, Secretary to the Delegates and Chief Executive of Oxford University Press (OUP) will retire in June 2009.

His announcement comes after eleven years in the position, during which OUP has seen tremendous investment and expansion.

Despite believing that his job has been “the best publishing job in the world”, Reece feels it is time to move on.

A committee led by Professor Sir John Vickers will make the decision as to who will replace him by around spring 2009.

OUP is the largest university press in the world.

The government decided to cut back on grants for students from middle-income families due to a shortfall in funding.

At least 80 000 undergraduates will lose grants of up to £534 a year. This is because the Department for Innovation, Universities and Skilled underestimated in the past year how many were eligible, resulting in a £200 million black hole in the budget.

Paul Dwyer, the OUSU Access Officer, said, “it is strange that the government is encouraging widening participation on one hand, and then effectively cutting off maintenance support to students.”

A college lecturer has become the third victim to be attacked on the cycle path between Ferry Road and Parks Road, provoking OUSU to pass a motion concerning the safety of the path.

The lecturer was attacked and robbed on the same cycle path where Japanese postgrad Kentaro Ikeda suffered severe head injuries in a brutal attack this July.

The victim, who wished to remain anonymous, spoke of how he “was pushed off my bicycle by a lone individual. I was told to hand over money, kicked, punched, and threatened in various ways.

“As an erstwhile cross-country runner I decided – perhaps rashly – to make a run for the Marston end of the path, but was hampered by the effects of the fall from the bike. My attacker was also fairly swift of foot, pursued me, and after about fifty yards I realised that I was not managing to put enough distance between myself and him.

“At that stage I decided to ditch the bag, and my pursuer then lost interest in maintaining the chase.” He continued, “I reported the incident to the police who are investigating.

“I had always thought that the path would be safe as it is well-lit and heavily used. I now consider alternative routes after dark if the path looks deserted, and would advise others to do the same. I feel extremely lucky to have come away with just a few minor cuts and bruises.”

The lecturer added that he had since recovered what he lost to the mugger. His bag, which had contained nothing but written work to mark, was later found near to where he had abandoned it by a member of the public and traced back to the lecturer’s college.

The bike meanwhile was spotted on Cowley Road a week later, being sold in a second hand shop. The owner claimed that the bike had been found abandoned in Summertown and had been given to him by a friend.

The police were aware of the incident, and have issued an appeal for witnesses, describing the perpetrator as a black male, of slim build, aged between 20-25, and wearing dark clothes. The mugging came in the same week as the two men accused of attacking Kentaro Ikeda in the same area have pleaded not guilty to charges of robbery and assault.

A motion was passed in OUSU council on Friday mandating the Vice President for Charities and Community, Jack Wellby, to pressure the relevant authorities to improve lighting and CCTV coverage on the path.

He said, “I feel as though the County Council have been far too slow to improve lighting on what is a dangerous path and that their ‘feasibility study’ is an unacceptable delaying tactic.

“I think that improvements to the lighting are the absolute minimum and that CCTV should be installed strategically along the path or at the entrances. In future the county council needs to be quicker to react to such incidents and ideally be proactive in improving the safety of dangerous areas in Oxford.”

OUSU are not the only group lobbying for improvements to the cycle path. A petition started in August by a resident of nearby Croft Road, gathered nearly 700 signatures, demanding more lighting to protect the many people who use the path as a route to the city centre.

However, nothing has yet been done about the dangerous path. The North East Area Council have ‘approved in principle’ improved lighting but are waiting for the results of a cost feasibility study, and it is not clear how long this will take.

The Oxford University Estates Directorate has so already ruled out installing CCTV in strategic points along the path on the grounds of cost.