Parents "digging deep" for kids says Halifax Unsecured Personal Loans
www.moneynews.co.uk > Personal loans > Parents "digging deep" for kids says Halifax Unsecured Personal Loans
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Money News |
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Parents "digging deep" for kids says Halifax Unsecured Personal Loans
Fri 31st Mar 2006
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Many parents stated that they would consider alternative options for helping their children with money, with 31 per cent saying that they would consider working longer hours.
More than one in five would think about getting a second job, a third would use money from their retirement savings and ten per cent would consider a personal loan.
Parents also makes substantial sacrifices for their kids, according to Halifax Unsecured Personal Loans, with 66 per cent saying they would give up a holiday to help their children out with money.
Some 63 per cent reported their willingness to delay home improvements such as new kitchens and bathrooms and 56 per cent said they would sacrifice the purchase of a new car.
Halifax suggests that borrowing from a bank could be a viable option for parents of students – 73 per cent of whom do not have an education savings fund, according to the report.
Ian Larkin, head of Halifax Unsecured Personal Loans, said, "An unsecured personal loan is one of the ways parents may choose to help finance their children's university education. Fixed monthly repayments and a choice of loan term can ease the burden and help budgeting."
Halifax Unsecured Personal Loans permit customers to make no repayments for the first three months of the loan and have the option to spread payments over one to seven years.
Related News : Personal loans |
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Related News : Halifax |
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