With the lowest interest rates in living memory, the last ten years have been great for borrowers but awful for savers – and it’s not changing any time soon!

Meanwhile students in England are going to graduate with average debts of £50,800, after interest rates are raised on student loans to 6.1%, according to the Institute for Fiscal Studies.

Those from the poorest backgrounds, with more loans available to support them, will graduate with debts of over £57,000 says the think tank.

Interest charges are levied as soon as courses begin and the IFS says students on average will have accrued £5,800 in interest charges by the time they have graduated from university.

So, will we have two tribes of the educated – those with debt and those without? While interest rates have already have produced two tribes – borrowers and savers.

The benefits to borrowers are obvious. Savers however have been left stuck with the lowest returns ever! Pensioners who had intended to rely on savings have had to rethink entire retirement plans, and people trying to buy their first homes have had little to no return when saving their deposits.

The bad news for savers is that it is looking unlikely to change in the near future. So what can you do?

Simon & Jo investigate…

Money Talk airs at 1pm every Friday on Channel Radio.