Up to his neck

August 2, 1996

Breaking the record for the largest student overdraft is David Close of Northumbria University. He arrived home from his summer job, which he hopes will clear his debts by next term, to find a letter from his bank asking him to pay off his Pounds 40 million overdraft in ten days. Mr Close had believed his overdraft to be Pounds 209. He has now persuaded Barclays to accept the lower figure.

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