Two in three parents will use their salary to help children through university debt-free

The findings show how parents are bearing the brunt as top-up tuition fees drive up the cost of doing a degree to £35,000.

Sixty-three per cent said they would use their salary to subsidise their children's university education to prevent them being saddled with debt on graduation.

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Almost as many - 59 per cent - would raid their savings but some were prepared to resort to more drastic measures, including taking an extra job or working longer hours.

In the survey by the Halifax bank, 11 per cent said they would consider taking out an unsecured personal loan while 10 per cent would consider remortgaging or selling the car.

Thirty-one per cent would dip into their retirement savings. A funding regime which came into effect last year has increased tuition fees to £3,000 a year at almost all universities.

The overall price tag for taking a three-year degree, including living expenses, is now estimated at £35,000.

One survey recently predicted debts on graduation will rise to £22,000, even after taking into account parental contributions, grants and students' part-time jobs.

Although students no longer have to pay tuition fees at the start of their course, many parents feel pressure to minimise their debts on graduation.

More than half of nearly 1,000 questioned said they would be prepared to give up 'anything and everything' to help support their child.

Only 16 per cent said they would not be prepared to make any sacrifices.

Many said they would put purchases on hold to see their child through university.

Two-thirds - 67 per cent - would put off getting a new kitchen or bathroom, 66 per cent would go without a new conservatory and 65 per cent would do without a holiday.

Neil Chandler, head of Halifax unsecured personal loans, said: "For most parents, taking your child to university for the first time is a proud but emotional moment."

But, he added, many parents were unprepared financially.

The survey found that more than half of parents expect their child to have to take out a student loan to fund their studies at university.

Ministers pledged recently to increase student grant to support more families, with two-thirds of students now eligible for at least a partial grant.