Rising numbers of grandparents expect to have to pay out to help their grandchildren through university, according to a new survey.
The poll claims that almost three per cent of grandparents have already helped to fund a degree, and this is set to rise to nearly 13% in the next decade.
ILC-UK, which commissioned the survey with Partnership and Key Retirement Solutions, said its own analysis concluded that this means that one in eight grandparents - around 1.7 million over-55s - believe they will to have to help with tuition fees while funding their retirement.
Almost three-quarters (73%) of over-55s think they will need to use some of their savings to help fund their grandchildren's university studies.
Dean Mirfin, group director at Key Retirement Solutions, said: "The numbers of grandparents providing financial assistance for university tuition is set to rocket from current levels as the implications of the maximum £9,000-a-year tuition fees become clear.
"With finances for the over-55s under strain from falling annuity rates and historically low savings rates, taking on extra commitments requires careful thought and planning."
The poll questioned 2,072 parents and grandparents between August 16-20.