Student debt 'a very real fear' among parents

 (Photo: Sufi Nawaz)

A YouGov survey reveals that parents worry how well their kids will budget when they first leave home.

The survey, commissioned by Ukash, found that over a quarter of parents (26 per cent) with a child aged 16-21 either at university of planning to go voiced concern about their offspring getting into debt.

While 16 per cent said they were "very confident" in their child's ability to look after their money well, and 15 per cent said getting a good degree is more important than debt, 32 per cent said they were either "not very" or "not at all" confident in their child's budgeting abilities.

More than half of parents (55 per cent) cited that learning to manage money well is a valuable aspect of a university education, perhaps especially given that almost a third (29 per cent) worry that their children will struggle to find employment upon graduating.

"University is a fantastic and unique time to make the most of new-found independence, but this lifestyle can all-too-easily lead down a slippery slope to long-lasting debt if outgoings aren't managed carefully," explained Miranda McLean, Marketing Director of Ukash.

"Our research demonstrates that this is a very real fear amongst many parents.

"Many, if not most, students rely on the 'Bank of Mum and Dad' at least to some extent in order to get them through uni. With high tuition fees and the general increased cost of living, this can be a tough time for parents."

Suggestions for worried parents include talking through budgets with children before they head to uni, or sending them cash in smaller, easier-to-manage instalments instead of a large lump sum at the beginning of term.

News
Community pantries mark a million visits as new research highlights impact on food insecurity
Community pantries mark a million visits as new research highlights impact on food insecurity

Community pantries across the UK have recorded their one millionth visit, as new research suggests the membership-based food model is helping thousands of households reduce food insecurity, cut costs and prevent them from falling into extreme hardship.

Christmas was a mix of joy and hostility for Christians in India
Christmas was a mix of joy and hostility for Christians in India

India has witnessed a blend of joyful Christmas celebrations in many parts of the country, alongside reports of hate, hostility, and attacks on Christians this season, particularly in northern and central regions.

Ringing in the New Year: A history of New Year traditions in the British Isles
Ringing in the New Year: A history of New Year traditions in the British Isles

To understand how New Year traditions came into existence – especially in the British Isles – is to explore a complex historic tapestry that is woven from ancient rites, calendrical reforms, and a common human desire to mark the passage of time, while reviewing the past and looking into the future.

The Traitors' Harry Clark says God 'was the answer' to search for meaning
The Traitors' Harry Clark says God 'was the answer' to search for meaning

When Harry Clark became the winner of The Traitors series two in early 2024, he went overnight from being an unknown army engineer from Slough, to national recognition.