More than half of students get no parental help
September 2, 2013 Leave a comment
The majority of students are applying for controversial new student loans.
More than half of university students receive no financial help from their parents – resulting in most having to take out loans to cover tuition and living expenses.
In a survey by website Topcashback.co.uk almost three quarters of students said they did not expect any help from parents. But a smaller number – 57 per cent – did not actually receive any.
The backdrop is steeply rising university costs and the introduction of a complex and controversial new student loans system, which launched in 2012. From that year annual university fees in England rose from up to £3,000 to up to £9,000.
The site’s research shows two-thirds of students take out student loans to help cover the cost of university and 54pc have a job while studying. Smaller numbers – two in five – use savings to help meet the costs.
A report on new loans system – effective from September 1, 2012 – is complex. All students in England can apply for tuition loans, covering their course fees, and maintenance loans that help with living costs such as accommodation, bills and books.