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&#39Start saving earlier to avoid student debt&#39

Edinburgh Fund Managers says soaring levels of student debt means parents should start investing earlier for university fees.

The firm points to statistics from the Department of Education showing that the average debt of students leaving university last year was £9,000.

Its InvestIT for Children product offers a choice of nine investment trusts. Minimum investment is £20 a month or a £150 lump sum. There is a trust facility which can help protect a child&#39s investment from inheritance tax at no extra charge.

Investment trust marketing Rosie Rankin says: “University is a great opportunity for many young people to develop and learn but the debt they amount will be a burden to them thereafter and a concern for parents.

“Parents believe investing in a child&#39s future is the most important investment they can make. Even saving small amounts now can make all the difference in years to come.”

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