Teenagers save to avoid secured loan troubles
11/08/2008Young people looking to enter higher education are setting aside money to help pay for it, it has been claimed.
According to the Children's Mutual, close to a third of youngsters between the ages of 11 and 18 are saving for university.
But it added that a third of parents have realised that they are not saving enough when the time comes.
David White, chief executive of the Children's Mutual, remarked that "we need a sea change in the way that many parents and their children fund university".
He said: "We would encourage parents and the wider family to consider saving as early as possible to help fund their children's university aspirations."
This comes after research from the Association of Investment Companies found that 78 per cent of people think that the UK's ongoing economic difficulties will affect how they fund their children's higher education studies.
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