Sep 8 2008
A total of one-third of children between the ages of 11 and 18 are saving money for university, new research from The Children's Mutual has revealed.
FinanceMarkets.co.uk reported that a recent study undertaken by the child trust fund provider found that some children were inspired to save after watching older family members address post-university debts.
According to David White, chief executive of The Children's Mutual, it is "great to see" that a number of teenagers are becoming more aware of increasing university costs.
However, he added that as the average university graduate leaves with £17,500 in debt, more should be done from an earlier age to encourage saving.
Currently, the research found, 42 per cent of university students work part-time to afford higher education.
New parents may wish to obtain a child trust fund information pack before their baby is born to help them determine how best to save with their child trust fund voucher.
