Student debt looks set to treble between now and 2010, with those leaving university in seven years time likely to be £33,708 in the red, research claims.

This year's graduates are said to have amassed debts of about £10,997 each but this is expected to rise to £17,561 for today's sixth-formers who will graduate in 2006, according to Barclays.

The group added that those graduating in 2010 were likely to have debts of more than £30,000 as a result of higher living costs and the prospect of tuition fees increasing to £3,000 from 2006.

It warned undergraduates would become increasingly reliant on financial support from their parents as well as finding holiday jobs and part-time work during term time.

But according to the Association of Investment Trust Companies, 41 per cent of parents had not saved anything towards their child going to university, while 32 per cent were saving less than £300 a year.

Despite this, almost half of teenagers and more than a third of parents think they will graduate less than £6,000 in debt.

Thursday August 14, 2003