Students and parents underestimate uni debts
Students and their parents are underestimating the cost of university, according to research published today.
The Association of Investment Trust Companies (AITC) found that the average debt future students expected to have was £7,208, while their parents were less optimistic with an average prediction of £9,741. Earlier this year Barclays found that students were graduating with average debts of £13,501.
This year's freshers will, of course, face different economic circumstances to the ones experienced by this year's graduates when they started university. The Barclays survey predicted that in three years' time the average debt would stand at almost £20,000. Once top-up fees come into effect next year some students will have fees of £9,000 for a three-year course included in their debts as well.
Despite the publicity surrounding student debt, many prospective graduates expect to escape relatively unscathed. AITC found that 36% thought their debts would be less than £12,000, and 16% less than £5,000.
TNS interviewed 2,012 adults and 536 youths aged between 16-19 for the research in late June.
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