Many parents in Ireland are worried that they may experience debts as a result of paying for their children to go to college.

This is according to new research from Standard Life, which showed that 51 per cent of the 352 parents surveyed are concerned they may have to take out a loan so that their son or daughter can progress to third-level education.

It was found that 97 per cent of respondents with young children are hopeful that their little ones will one day attend college, with 57 per cent claiming they have already started placing money to one side for their child's future.

Despite this, 42 per cent of those questioned admitted they do not have any savings in place for their child's education, with 52 per cent acknowledging that it would have been better for them if they had started putting money away at the beginning of their child's life.

Written by Donal Walsh

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