Many of the UK’s students could be set to struggle more financially as the impact of the credit crunch is felt, it has been suggested.

Thousands of young Britons face serious debt problems when they leave university and the economic downturn in the country as a whole could see them less able to turn to their parents for financial help, says David Malcolm, head of social policy at the National Union of Students (NUS).

Mr Malcolm maintains that there are resources available to help students with money problems but parents tend to play a significant role in assisting their offspring and many will soon be unable to do so.

The NUS spokesperson said: "If parents are in a situation where they are suddenly paying more on their mortgage more students will find that their parents won’t be able to support them."

Earlier this month, the Shelter charity issued a report highlighting the rising costs associated with paying off a mortgage in all parts of the UK.