Parents and grandparents are shouldering an unprecedented £2.8 billion a year to support students through university, as the soaring cost of higher education leaves families footing the bill. New research shows that 71 per cent of parents are either contributing, or planning to contribute, financially towards their children's time at university. The average outlay per family now stands at £8,723 annually. With more than 328,000 students enrolling in UK universities this year, the financial burden on households has reached a record high.