Children born this year face £100,000 university costs

New data suggest children face increasingly astronomical costs with inflation expected to double over the next 18 years

A university education, including tuition fees, living expenses, accommodation and a modest social life, starting this September will cost around £35,000.

From September 2012, tuition fees rise to £9,000 a year that could push the cost of a 3-year degree course up to around £53,000. Once inflation is factored in, a child born in 2011 could face a three-year university education costing around £100,000, a report from Hargreaves Lansdown says.

The report adds the same child could need a £80,000 deposit if they want to get a foot on the housing ladder at age 25.

"This level of expenditure is likely to put the bank of mum and dad under increasing pressure" the report warns.

Hargreaves Lansdown says the trend is only expected to continue even with modest inflation levels as university and housing costs soar over the next few decades.

The report urges parents to take full advantage of their child trust funds or take a look at Junior ISAs, to be launched in November 2011.

"The Junior ISA is the long-term replacement for the Child Trust Fund and is likely to be one of the best ways to save for a child's future," it said.