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Tunbridge Wells Equitable Friendly Society launches university bond

Tunbridge Wells Equitable Friendly Society is launching a university bond for parents to help students avoid overdrafts.

Students currently owe an average of £3,300 each and expect the figure to rise to £7,000 when they graduate, according to research by MORI.

The bond is a minimum 10 year saving plan which can mature in three or four lump sums, one for each year of the academic course.

Twefs&#39s marketing head David Halliday says: “We are encouraging parents of young children to take this issue seriously. Tony Blair&#39s aim is to have 50 per cent of youngsters going to university by 2010. More parents will want to provide for their children&#39s education costs in this way.”

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