AT a time when students' finances are much in the news, there's an opportunity for one to wipe out their debt at a stroke.

Student publication Real World magazine has linked up with PriceWaterhouseCoopers and HigherInsight to identify 2004's Graduate of the Year. The winner will walk away with £8,000, and there are two runner-up prizes of £1,000 each.

The competition is open to current students who have made the most of their time at university. It will take into account academic work and any other achievements that show determination, initiative and a desire to make a difference either on a personal level or within the community in which they study.

Tom Barlow, Real World editor, says: "Too many students think that just by getting a degree, they'll have a passport into a graduate job. But there are so many students graduating, that employers are more interested in wider achievements. We want people to make the most of their time at university, to get themselves moving, gain experience, build up their skills. The Graduate of the Year award aims to show just how much can be achieved during student life".

Students can enter the competition through a dedicated website, accessible via www.realworldmagazine.com. They can either nominate someone else, who will be emailed and invited to apply, or enter directly. Short-listed candidates will then be interviewed and the final winners selected. The competition closes on February 10.