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Twefs offers education guide

Tunbridge Wells Equitable Friendly Society is offering a guide to inform young people about the costs of higher education.

The move is in response to a recent Mori poll which found that the average student owes £3,300 and expects to be £7,000 in debt by the time they graduate.

Twefs&#39 Brief Guide to the Financial Aspects of Higher Education tells parents about the necessity of starting to save early to fund education and how students can avoid falling into debt when they enrol for studies.

Government figures indicate that a third of young people currently go to university and it intends to increase this figure to 50 per cent by 2010.

Given this prediction, Tunbridge Wells says it will be more important than ever for parents to start saving early.

Twefs is promoting its university bond, a savings plan which pays out in annual instalments once the student is enrolled in school.

Head of marketing David Halliday says: “One method of helping the students of the future avoid getting into debt is to start saving early.

“The university bond is a minimum 10-year savings plan which can be taken out to mature in three or four lump sums, one for each year of the academic course.”

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