Student debt has dropped for the first time since records began, according to the Push Guide to Student Money.

An independent resource for prospective students, Push has found that students owe an average of £3,103 per year of study. This is a decrease of more than 9% on last year. Push’s Booze Index also revealed the average price of a student drink has hit the £2 barrier, up 5p from last year. Average rents have also increased by 7% – from £64.69 per week to £69.08.

Push also predicted average debt on graduation to be £20,000 per student by the time this year’s freshers leave – an increase of £9,000 on current figures.

Johnny Rich, series editor of The Push Guides, said: “This year’s debt fall probably indicates some belt-tightening on the part of today’s students. Even those who won’t face top-up fees are anxious about their future prospects. The fact remains though that higher education is still an excellent investment, not to mention a great way of spending three years.”