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PPI Claim: Parents 'to make fee sacrifices'

Parents who are feeling under pressure to help pay their children's tuition fees could consider making a payment protection claim to help their financial situation.

Many mothers and fathers will reassess their budget to help find the extra money needed to cope with education charges that will be £9,000 annually from the start of the 2012 academic year, according to a new report from uSwitch.com.

The research shows that ten per cent will reduce the amount they spend on everyday items, 34 per cent will use their savings and 15 per cent will take out a loan. Only five per cent of parents whose children are currently studying have felt the need to take out the credit option.

Many parents are already struggling with their household finances "in the face of the rising cost of living, job losses and pay freezes", said the site's personal finance expert Michael Ossei.

Credit Action stated the rise in fees has brought unavoidable uncertainty among potential students.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-800779448-ADNFCR



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