Bank of Mum and Dad closed to students

By Sophie Christie. Parents confess lack of financial support for their children during university. University students will have to rely wholly on student finance in the future as a new survey reveals three quarters of parents are not saving money towards their child’s higher education. The survey conducted by money saving website, www.offeroftheday.co.uk, shows that from a poll of 1,403 UK parents who had children either at university, or soon to be going, three quarters replied ‘no’ when asked “Do you have a savings fund to help your child through university?”
When questioned why they had decided not to save for their child’s university education, 44pc said that they could not afford to do so, 40pc said they would contribute what they could and 31pc believed student finance would be enough to cover the cost. Read more...