In an era where average graduate debt in the UK exceeds £50,000, this Sky News article offers crucial advice for parents aiming to alleviate the financial burden on their children pursuing higher education. It emphasizes the importance of proactive planning, suggesting that it is never too early for parents to start preparing financial strategies for university expenses. With the introduction of the new Plan 5 repayment system, which requires graduates to repay 9% of their income above £25,000, understanding these financial aspects is essential for families planning to support their children through university.

The piece highlights several methods that can be implemented to save potentially £15,000 in student debt. Parents are encouraged to consider options such as regular savings accounts or specific investment vehicles that grow over time, ensuring funds are available when their children reach university age. Additionally, the article touches on the importance of engaging in discussions with children about financial literacy and the implications of student loans.

Overall, this guide serves as a timely reminder that early financial planning and the right educational choices can have a long-lasting impact on a child's future, particularly in avoiding crippling student debt that comes with higher education today. The advice provided is not only relevant for parents of young children but also serves as a warning about the rising costs associated with university attendance and the importance of financial preparation.