Students and parents are underestimating the true cost of university, a survey carried out on behalf of the Association of Investment Companies has suggested.
While the average debt for students starting in 2012-13 is expected to be £53,000 upon graduation, the average student expects to leave university owing just £24,436. Meanwhile, parents expect a debt of just £18,333.
Students and parents also differ in their expectations about accommodation. Just 18 per cent of students say they are likely to live at home while at university to save money, compared with nearly half of parents.
The online survey of 1,006 parents and 1,021 students was conducted by market research firm Opinium.