Saving for children 'may help with university costs'
Parents may wish to begin saving for their children's university days following the release of student finance information.
According to NatWest's latest Student Living Index, around 750,000 undergraduates – 42 per cent of the student population – feel they have to work through university to pay the bills.
Nearly 25,000 more students will take on part-time jobs alongside their studies compared to last year.
The choice of university may also affect finances, with Plymouth University named as the cheapest place to study and Exeter the most expensive, with students of the latter an average of £3,510 worse off.
Students in Cambridge and Dundee are also hit by higher costs, according to the study.
Parents and grandparents may wish to look at savings products such as an Individual Savings Account to help save for children's education.
They may also be able to offer young family members advice on saving, as a Lloyds TSB Insurance report has indicated those over 50 are less affected by the credit crunch.
