News

20/04/2011 12:03:52

Can financial advice help parents budget for £9k tuition fees?

Parents who think they may struggle to be able to help their child through university when tuition fees go up could seek financial advice.

According to the Press Association, some two-thirds of universities which have declared their intended fees rise have opted to take costs to the maximum of £9,000, which could hit some families hard.

The government had predicted that the average annual fee for higher education would become £7,500 following the move to allow universities to charge more for tuition, but it currently stands at £8,500.

Jon Richards, head of higher education at the trade union Unison, said: "Young people from disadvantaged backgrounds deserve a fair shot at getting into any university in the UK. With the going rate for a degree now at £9,000, the danger is that many will be put off."

Parents putting money into a Child Trust Fund may also seek advice about how to boost the personal wealth of their child through the scheme before it is closed, the Children's Mutual recently said.