The mounting costs of further education in Britain are starting to deter prospective university applicants, a survey shows.

Almost one in four young adults think taking on debt to go to university is a waste, according to research by Engage Mutual Assurance.

Some 24 percent of 18 to 24-year-olds consider taking on debt to go to university pointless and 26 percent of parents aged 45-54 agree, the poll of 2,271 people shows.

The UK's Universities Secretary John Denham announced earlier this month that about 50,000 more students every year will benefit from full maintenance grants worth more than 2,800 pounds ($5,600) to help them make ends meet.

Graduates will be able to take a break from repaying their loans for up to five years to help them buy a house or start a family, he added.

However, the National Union of Students says that tuition fees and rising living costs mean students can leave university with up to 30,000 pounds ($60,000) of debt.

Against this backdrop, 82 percent of young people surveyed by Engage Mutual say they recognize the importance of going without today to save for tomorrow, compared to 61 percent of grandparents.

A spokesman for Engage Mutual, said: "The financial situation faced by today's young people is very different from that experienced by their grandparents.

"Whilst it is encouraging that many young adults recognize the need to save for their future, increasing costs of university and housing mean that young adults will have to think carefully about how much they save and how they invest."

Agencies

(China Daily 07/27/2007 page9)