Personal Finance

Parents: University too expensive

The cost of a university education is proving too much for many middle income parents with one in three admitting it is not worth the investment, a report claims.

Parents earning between £15,000 and £40,000 are finding it difficult to send their children to university, the poll by independent education foundation Edge shows.

Most think that a degree is less valuable than 10 years ago, the survey of 500 parents reveals.

Most parents believe that young people are no longer offered more opportunities because of their education.

While two out of five parents said they had changed their mind about wanting to send their children to university.

Lord Baker, chairman of Edge said: "For too long, middle income parents have been blinkered to the alternative education options to university for their child.

"The vocational route provides something incredibly valuable to a young person because it equips them with the skills they need to succeed in the workplace."

The study was published as part of Edge's campaign to improve the status of vocational education, including a VQ Day on June 22.

A spokesman for the Department for Business, Innovation and Skills said: "A university degree is an excellent investment in your future. Students and their families need to know that applying for student finance is quick and easy and can be done online."

Universities also provide services to help students with their personal finance, budgeting and money management to help make life away from home easier.

Sam Jackson

Money Dashboard