Loans ''could be required to see kids through university''

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Parents who find themselves in arrears and needing a debt management plan may be putting their children''s education at risk if they do not rectify the situation, it has been suggested.

According to a new report from Sainsbury''s Finance, 53 per cent of youngsters are receiving financial support from their guardians while at university.

The collective amount handed over to offspring during their studies stands at £5.29 billion, the study revealed.

Commenting, Every Child a Chance Trust director Jean Gross explained those who are fiscally disadvantaged from a young age could continue to struggle in higher education.

"You have to start early to make sure they have the basic skills they need to get onto higher education and career ladders," she said, adding those struggling financially could end up not having the resources to send kids to university.

The Sainsbury''s Finance figures showed over 40 per cent of parents with offspring at university are drawing on savings or using loans to help them cope with the financial burden.

It revealed the average student requires more than £8,000 of assistance while in higher education, while some need up to £20,000.