Students 'not prepared for debt'

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Students 'not prepared for debt'

A major UK investment company has warned that, according to a new survey, British students are not prepared for the cost of going to university.

According to ISIS Asset Management, who manage over £61.9 billion of investments on behalf of 4 million people, parents are not aware how much sending their children to higher education will set them back.

That is despite the high-profile government bill to introduce top-up fees, which was accepted by a narrow margin in parliament yesterday.

The survey, conducted for ISIS by NMG Research1, suggests that only 28 per cent of grandparents and parents were doing something to provide for their offspring's future financially.

It also concluded that 87 per cent of those asked: “underestimated or didn't know the average current cost of completing a 3-year course”, according to ISIS director Jason Hollands.

“Deciding to take a place at university is a major financial commitment for sixth formers and currently they are not being equipped with sufficient help in understanding about how credit, savings, loans, investments and mortgages work,” Mr Hollands added.

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