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Children saving for university
11 August 2008
Young people are saving for higher education plans after seeing older siblings struggle with debt, claims the Children's Mutual.
Research by the leading child trust fund provider found that nearly a third of youngsters aged 11 to 18 are already saving for university while 42 per cent of undergraduates plan to work part-time in a bid to afford higher education.
David White, chief executive of the Children's Mutual, said: "It is great to see that today's teenagers are aware of the costs involved with going to university."
A third of parents admit they are not saving enough for their children's futures and this needs to change so people are not deprived of education, according to Mr White.
"For parents of younger children, one way to stave off the financial nightmares of the current university generation could be to start saving now," he added.
Research by the National Union of Students revealed that the average person leaves university with around £20,000 of debt.
