FOR young adults the thought of starting university means new friends, new lectures, and probably more than a few pints of booze.

But for parents, the worry about university is financial.

The National Union of Students estimates that the average cost of a three year university stint is £24,000. Add to this the top-up fees being proposed range from £3,000 to £5,000.

Irene Bell, marketing manager at F&C management, said: "Our research shows that only two fifths of the UK adult population has made savings on behalf of a child. For those who have yet to put money aside the important thing is to start saving as early as possible before the costs become too great.

"A long term stockmarket investment may provide the growth needed to fund these costs." Parents should consider equities as a long term option or savings accounts with no element of risk.

Ms Bell added: "There have been exceptional market fluctuations over the last five years. It is worth remembering that past performance is not necessarily a guide to the future.

"The value of investments can fall as well as rise and parents may not get back the full amount they invested.

"Investment trusts can be a good compromise."

For more information from F&C call 0800136420.