University 'Waste Of Money And Time' For One In Four

16:36 Mon 24th May 2010 |

We all want the best for our kids and that includes a good education. However, it seems many young people do not see the value of going to University and would rather get a job and earn some money instead.

Close to a quarter of young Britons consider it a waste of time and money to go to university, it has been revealed. Statistics from a leading mutual assurance firm suggest that the average of around £30,000 debt taken on to go into higher education is enough to turn off a quarter people aged between 18 and 24 years-old.

And 26 per cent of parents aged between 45 and 54 agree, with a spokesman for the firm adding that young people need to be careful where they are putting their money.

"Increasing costs of university and housing mean that young adults will have to think carefully about how much they save and how they invest," he said.

This comes as also recent findings have shown that nearly two thirds of parents haven’t started saving to cover the cost of their child’s university fees. In addition, one in five have no idea how they'll afford their children's higher education. This is not helped by the fact that around six out of ten students believe their studies have suffered because of financial problems.

Top tips to help students cope with university fees:

•    Instead of travelling to a far away town or city, save by living at home and attending a university close by.
•    Get a part time job as soon as you can. Even if it is only one day a week it will almost certainly help with spending money.
•    Parents may need to consider switching jobs to earn a higher salary.
•    Parents may need to work longer hours to generate enough income to cover their child’s university costs.

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