Real cost of uni far higher than estimated

Both parents and soon-to-be students are underestimating the costs of higher education, new research from the Association of Investment Trust Companies (AITC) has warned.

Most teenagers waiting to get their results said that they expect to come out of university with £6,199 in student loans, while their parents estimated £7,080.

Both were a long way out of line of the actual student loan figure of £13,500, however – in the children's' case, half of the real figure.

Both parents and children said that they were concerned with the financial burden of university, with student loans and other debt the biggest issue.

"Soon students up and down the country will be preparing to start their university courses in the autumn," said Annabel Brodie-Smith of the AITC.

"However, it's concerning that so few would-be students and their families really comprehend the financial implications of going to university.

"Many young people go to university to enjoy some of the best years of their life but on graduation will find themselves struggling to repay their debt.

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