Schools urged to teach the ‘practicalities of student finance’

As sixth formers work on their UCAS applications this term, the financial practicalities of going to university may seem a long way off. But consumer champion Martin Lewis has called on schools to make sure their students are clued up about university costs.

“It’s incumbent on schools to ensure that pupils understand the practicalities of student finance,” said Mr Lewis, the founder and chair of consumer help website

He made his comments following the claim that there has been a “hidden rise” in the amount that parents are expected to contribute to their children’s living costs at university.

In some cases parents face a 27 per cent increase on last year, following changes to the way in which student loans are allocated.

After analysing figures from the Student Loans Company, researchers at found that higher earning households with an income of more than £69,803 a year will need to find up to £4,379 extra for students living away from home and up to £5,372 for those living away and studying in London.

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