Anyone thinking about going to university has plenty to think about, from courses and accommodation to where to study and coping with living away from home. Student finance is another key issue, and it is vital that applicants know all the facts before starting their degree.
Most people will be aware that universities will be able to charge more for courses starting in 2012, but it seems a degree of misunderstanding remains, both among would-be students and parents.
"It's crucial that all young people have the right information about higher education choices," says the president of Universities UK, Professor Sir Steve Smith. He was responding to Simon Hughes's report on improving access to education, which made special reference to financial education.
"Universities UK is working to counter the misunderstandings and misinformation surrounding fees by communicating the major changes to student finance in a clear and accessible way," Professor Smith explains.
"No one should be put off from applying to university due to incorrect information about the costs and benefits of going to university," he adds.
To tackle this, Universities UK is working with other high education bodies including UCAS through the Independent Taskforce on Student Finance. This resource is aimed at debunking all the myths surrounding fees and university costs, providing young people and parents with essential information for courses starting next year.
Nicola Dandridge, chief executive of Universities UK, believes students need to cut through the debate on whether increasing fees is right and focus on the bare facts.
"The politics of tuition fees have hampered the efforts of universities to get the facts out there about student finance," she says. Indeed, a poll for Universities Week 2011 found that a third of parents have no or little understanding of the upcoming changes to student finance in England.
Mary Curnock Cook, chief executive of UCAS, notes that explaining student finance "makes complete sense" for the admissions service. She adds: "Supporting the independent taskforce means we can communicate more effectively to young people, mature applicants, parents, teachers and advisers it's a great fit with our wider role around information and advice."
UCAS itself provides information on student finance for each individual course. The Course Search tool, which has been updated for 2012 entry, lists fees for each course for both UK and European Union applicants, as well as all available bursaries and scholarships.
Applicants simply need to choose the course and university they are interested in and the tool will list everything from entry requirements to financial information. There are also links to the institution's individual websites for more facts and figures.
But it is important to remember that while fees are going up at many universities next year, students will not be paying up front. And analysis by Martin Lewis, head of the Independent Taskforce on Student Finance Information and MoneySavingExpert.com founder, reveals it won't cost many students any more on a £9,000 course than on a cheaper equivalent.
"It would be a tragedy if young people were put off going to university because of misplaced concerns about the true cost," he says.
The findings suggest that when applying to university, it is important not to let the issue of higher fees cloud your judgment.
Wes Streeting, chief executive of the Helena Kennedy Foundation and deputy head of the Taskforce, explains: "It's important graduates aren't put off going to the course they want to due to the headline fee level."
He advises applicants to work out which course they think is right for them and remember that the more expensive ones will only cost more in the long-run if they end up earning big money.
"There are a whole range of factors that applicants may want to consider when making their decision, but the level of fee being charged on their course shouldn't be the only one," he adds.