Students will get less help from parents due to credit crunch
Published On 23 April 2008
The ensuing impact of the credit crunch on British consumers could mean that young people in higher education are less likely to receive financial support from their parents.According to the National Union of Students (NUS), more people at university could soon be relying on hardship loans and part-time work to support them.
David Malcolm, head of social policy at the NUS, asserted that problems could arise for students because many mums and dads are now having to pay higher monthly mortgage repayments
Mr Malcolm explained: "If parents are in a situation where they are suddenly paying more on their mortgage, which wouldn't be taken into account when assessing what student support there is, more students will find that their parents won't be able to support them.
"It is one those things that's speculative at the moment we haven't yet seen that play out."
As noted by directgov.co.uk, all full-time students who qualify for student finance will be entitled to a basic amount of financial help, including a loan to cover their tuition fees.
