Children's Mutual: Teenagers saving to escape student debt

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Children's Mutual: Teenagers saving to escape student debt

Mon 11th Aug 2008

Nearly a third of children aged 11 to 18 are putting money aside to help fund their higher education, research has found.

Child trust fund provider The Children's Mutual commissioned research by the Social Issues Research Centre, which uncovered the statistic.

It also found that a third of parents realised they were not saving enough for their children's future, while many adults over 18 considered student debt "normal".

David White, chief executive of the Children's Mutual, praised the youngsters who were saving but pointed out that three years at university now costs £40,400 on average, which he called "a huge amount for any teenager to find".

He urged families to start saving early, while their children are younger.

Meanwhile, healthcare students' unions and organisations are calling for a simplified funding system to encourage more people into the profession and help support those already there.

The Student Experience report, published jointly by several organisations including the National Union of Students and the British Medical Association, calls for standardisation of funding for degree and diploma students and a study of the issue of student loans.

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