By Liz King

Two in five parents will eat into their savings to support their children while they are studying, according to research from Sainsbury’s Finance, while nearly one in six students will live at home while they are studying, so they are getting either free or subsidised accommodation.

In 2 per cent of cases though, parents have even gone as far as taking out a loan to help their offspring through their university years.

On average, parents are stumping up £8,070 per student during their time at university, but this rises to £10,000 for one in three parents, and some go as far as £20,000 to make sure their child does not have to scrape his or her way through college.

Steven Baillie, head of loans at Sainsbury's Finance, said: "There is no doubt that university life is becoming increasingly expensive and financial contribution from parents is viewed as an integral part of the Government's university funding. In the current economic climate, however, this can bring a real financial strain to many families, which is why it's important that parents who are thinking of alleviating their children's financial burdens with a personal loan make sure that they shop around for the best deals."

Students in London are most likely to be living at home, as a quarter live with their parents, while those studying in the South East are most likely to rely on their parents’ savings to get them through, which is no surprise given that 18 of the 20 most expensive universities – in relation to the cost of living – are based in London or the South East.

Mr Baillie added: “Students in Scotland are getting the highest amount of financial assistance from parents who are giving support, with the average undergraduate set to receive £9,784 during their university life.  These students are receiving on average some £2,500 more than those studying in the North East, who anticipate receiving £7,272 from parents looking to make a contribution towards their student costs.”