Wednesday 12th of August 2009
Three-quarters of parents with a child at university are facing increased debt management pressures due to the recession, research reveals.
According to the Association of Investment Companies (AIC), 74 per cent of parents believe that their ability to help their student-age offspring financially has been impaired by the recent economic turbulence.
The news compares with figures showing that three in ten current students believe they would take a better-paid job over one in their dream profession.
Older generations are sharing the debt management burden in some cases, as one in eight grandparents are also now helping to pay for students’ costs.
Communications director Annabel Brodie-Smith says: "It is extremely important that students and parents understand the true levels of debt they will face on graduation."
She adds that the recession "is making it harder for today’s parents to help fund their children’s university education".
The AIC previously noted that those with stocks in the utilities sector may have faced a slower recovery than in other industries - but added that share prices are probably undervalued at present.
By Neil Burton
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