A-Levels Results Day highlights need for savings for all
Save Child Savings Alliance responds to the prospect of £25,000 debts for this year's cohort of students
Today, A-Level results were released that will take thousands of students to university, but they will be facing debts of almost £25,000 on graduation, figures from The Push Student Debt Survey 2010 warn.
As thousands of students compete for university places, David White, Chief Executive of The Children's Mutual on behalf of the Save Child Savings Alliance, said:
"These alarming figures on rising student debt darken what should be a happy day for young adults around the country, and demonstrate more than ever the importance of building a proper savings culture in the UK. Building up assets from birth is essential for young adults who will have to cope with such escalating debt.
"The Child Trust Fund, the most successful government savings scheme ever, actively helps families to build up savings for their children from birth, to give them access to greater life chances when they become adults. At a time of cuts it is important that the structure of the Child Trust Fund at the very least is retained. We need to ensure the next generation has a route out of the culture of debt, and we cannot leave them without any savings policy to enable that."
