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PPI claims: Parents expect to struggle when supporting students through university

Parents of university attendees could be finding they are increasingly struggling with loan charges and credit card claims, with research from the Association of Investment Companies showing this demographic is frequently supporting its offspring.

A total of 86 per cent of respondents said they are currently finding it hard to help their children get through university due to the UK's economic troubles, or are expecting that they will.

Furthermore, 36 per cent of mothers and fathers predicted their children will live at home when going to university to minimise their expenses, while 19 per cent argued their children ought to choose a cheaper university to avoid tuition loan claims of up to £9,000 every year.

More than half of the students polled in the research (54 per cent) claimed they predict they will have debts of more than £20,000 when they graduate.

Credit Action chief executive officer Michelle Highman recently noted many students owe money when they leave university.

"That may be debt from their student loan, but can also be credit debts, which includes bank loans, credit cards and even overdrafts," she explained.

Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801409214-ADNFCR

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