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&#3911% of equity investments are for school fees&#39

Eleven per cent of people are investing in equities to save for child-related costs such as school fees.

Research from Fidelity shows that the rising costs of university and private education are leading parents to save so their children do not leave university with a burden of debt.

Fidelity says the average fees for a private boarding school are now £14,500 a year based on figures from the Independent Schools Council.

Even if parents do not use private sector education, university costs are around £24,000 for an average three-year degree and living expenses.

A National Union of Students factsheet called Managing your Money warns that universities, including Oxford and Cambridge, are lobbying the Government to raise tuition fees from £3,000 to £5,000.

Fidelity says its three wealthbuilder target funds will pay out lump sums to investors when the target date is reached and are ideal savings vehicles for paying for education.

The survey was carried out for Fidelity by Mori which interviewed 378 equity investors between May and June.

Fidelity executive director Anne Davis says: “More and more parents are going to have to be prepared for the expense of education if they want to help their children avoid the crippling cost of student debt.”

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