Will Education Costs On Credit Lead To Disaster?
A survey by Norwich Union has highlighted the plight of many parents with children looking towards further education to better themselves and improve their employment prospects. The report also confirms the cost of sending a child to university is £15,000 in London and £13,000 in other areas of the UK. So will something have to give?
With one in four parents only able to contribute £100 a month to higher education costs this leaves a large gap to fill, with many reverting to their credit cards. One in four are very concerned about the funding situation and how it may impact upon their own lifestyles while one in three are frightened of the debt implications for themselves and their children.
The cost of education has increased throughout the UK, as has the cost of living, and with Scotland aside (free education) many parents are now faced with a difficult situation, do they push their finances to the limit and beyond to fund further education or live within their means?
For many parents this is a heartbreaking decision and will affect the UK employment picture for many years to come. Cries of help are going unnoticed within government circles leaving many parents literally in despair.
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