Uni may lead to parents? debt help need

Paying for their children's education is giving parents more and more debt problems, with many saying that the recession has only made the debt spiral worse.

A survey by the Association of Investment Companies (AIC) found that more than eight in ten (82 per cent) parents are struggling to put their children through university.

The average debt is estimated to be more than £21,000 (£21,198), which will come as something of a shock to many parents who are helping their children pay it off, as nearly a quarter (24 per cent) think that the amount owed will be less than £10,000.

The report also discovered that almost one parent in four (23 per cent) were giving up their annual holiday to pay for their child's debt, whilst one in five (21 per cent) wouldn’t be able to afford a new car.

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