A leading finance company will let year 12 students bypass university and begin working as accountants and risk management consultants straight after high school from this year, and at least five other companies are in talks to do the same.

The move is being supported by the government and school career advisers as a way to bring down student debt levels and provide more opportunities for disadvantaged students.

The "higher apprenticeship" pilot program, to be launched next month, will target about 250 school-leavers but has the potential to grow to thousands of students, Assistant Minister for Vocational Education and Skills Karen Andrews said.

Designed and led by PricewaterhouseCoopers, the program will run for 18 months and allow school-leavers to get a business diploma while they work alongside graduate employees in core company areas. At least five other companies are expected to participate.