Students 'leave uni with £13,000 debt'
18.07.2008
Students who complete university this year will have average debts of around £13,000, according to new research.
Due to top-up fees, next year's graduates are predicted to leave university with debts of £20,000, the Association of Investment Companies (AIC) suggests.
It finds more than half of students expect to rely on their student loans to fund their studies, while 11 per cent say they intend to take part-time work.
AIC's communications director Annabel Brodie-Smith says: "The credit crunch and the rising cost of living will undoubtedly make it harder for parents to fund their children's university years."
She advises parents to start saving for their children from an early age as such financial planning can give them a head start.
Yesterday, findings released by Abbey suggested parents with school-age children will spend £600 million less in this year's summer holidays than in the same period last year.
The survey indicated that spending on holidays, toys and childcare would all be reduced.
Due to top-up fees, next year's graduates are predicted to leave university with debts of £20,000, the Association of Investment Companies (AIC) suggests.
It finds more than half of students expect to rely on their student loans to fund their studies, while 11 per cent say they intend to take part-time work.
AIC's communications director Annabel Brodie-Smith says: "The credit crunch and the rising cost of living will undoubtedly make it harder for parents to fund their children's university years."
She advises parents to start saving for their children from an early age as such financial planning can give them a head start.
Yesterday, findings released by Abbey suggested parents with school-age children will spend £600 million less in this year's summer holidays than in the same period last year.
The survey indicated that spending on holidays, toys and childcare would all be reduced.