A survey by the AITC says 40 per cent of parents are saving nothing for their child’s university eductaion while one in four children expect their parents to meet the cost.
Would-be students also expect debt on graduation to be 7,208 compared to the actual figure of 13,501 according to Barclays annual graduate debt survey.
63 per cent of parents save in a bank or building society, with only 19 per cent opting for a child trust fund. Only 7 per cent of parents invest in stocks and shares.
50 a month in the average investment trust would total 16,727 over 18 years to the end of June 2005.