It is inevitable that Britons will enter debt at some point in their lives, according to the Personal Finance Education Group.

Director of policy Alastair Mathews argues that debt has been built into British society in such a way that it is almost unavoidable.

He explains that consumer acceptance of costs which would be unmanageable without financial assistance - such as going to university or buying a house - are evidence of this.

"Young people have to now virtually always consider going into debt to cope with the costs of going to university," Mr Mathews contends.

Parents looking to assist their offspring in covering such costs could opt for a homeowner loan, which can release some of the equity held in property.

The prospect of a homeowner loan could be particularly appealing in light of Mr Mathews' suggestion that the UK market caters for such products better than in other countries.

"We have a more developed market for credit and financial services in this country than there is in most other places," he claims.ADNFCR-1287-ID-18373411-ADNFCR

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