As University Tuition Fees Increase, Parents Simply Have To Save More

Both Oxford and Cambridge Universities have announced that in order to provide the highest quality of tuition they will be raising their fees to nine thousand pounds per year. Where Oxbridge goes the rest will follow, so parents will have to save more if they want their children to obtain a university degree. The final quarter of 2010 witnessed a rise in savings levels. This was around the time that statements about rising tuition fees were published.

One problem for savers is that interest rates are at an all time low and inflation is expected to remain at around four per cent, resulting in poor returns on savings. The government has argued that special funds will be put in place to help the poorest who can no longer afford a place at university but this will provide precious little relief for those in the ‘squeezed middle’.

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