Student debt is “unavoidable”

Lloyds TSB has already embarked on a programme to educate school pupils about student debt and has produced a parent’s guide.

“I think debt is a part of student life unfortunately now because of tuition fees and top up fees, it’s unavoidable,” said the bank’s spokeswoman Amy Waldron.

Warnings come as the average student now owes £13,500 upon graduation and the Liberal Democrats claim that more young people are going bankrupt, partially due to student debt.

Ms Waldron said it was “useful” for parents to help their children but warned that many parents are unaware of the full scale of student debt.

Despite this, she said that “there are a lot of places to go to for support” for helping both parents and graduates cope with student debt.