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Debt advice needs could increase as university costs soar

Debt advice needs could increase as university costs soar

- Thursday, 20 August 2009

UK debt advice needs could rise as a result of a £3 billion yearly increase in the cost of attending university.

According to The Children's Mutual, this year's school leavers could see their cumulative university costs reach £25 billion.

It is suggested that in order to afford three years of higher education, the average student will now have to pay out £42,000.

While a certain amount of this will come from loans, the majority of students will also rely heavily on their parents.

The Child Trust Fund Provider suggests that 87 per cent of undergraduates depend on their mum and dad for financial help. A large proportion of the expected £3 billion increase in costs could well be born by UK parents.

David White, chief executive of The Children's Mutual, said: "The high costs involved can be a real financial strain to a huge number of students and their parents.

"This can have a serious impact on their own financial futures."

On leaving university, Britain's youth face a difficult task finding work, with unemployment reaching 2.4 million earlier this month. ADNFCR-2300-ID-19321780-ADNFCR
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