Students 'Forced Into Work' as Prices Rise

By Michael Ross
Published on 11 Aug 2008
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Students 'Forced Into Work' as Prices Rise

Tough financial times mean that many are looking for a job while they study full-time.

Many students are looking for paid employment while they study, in order to help them make ends met.

New analysis from Halifax, released today, showed that 66 percent of those questioned had a job - with four in ten of this total saying that they had taken the work on for financial reasons. Around a fifth (18 percent) also said that they had two or more jobs, despite their academic obligations.

The survey comes at a time of rising inflation; at 3.8 percent, annual price rises are at almost double the Bank of England's target rate. Moreover, accommodation costs are also on the up, with the housing downturn pushing more people into the rental sector, increasing demand - and rents.

Mike Regnier, head of banking at Halifax, commented: "It is vital that students make the most of the finances at this crucial point in their lives and choosing the right bank account needs to be a key consideration for them. An account with an attractive zero percent overdraft rate could prove to be very beneficial."

Region by region, students in Northern Ireland were found to be the most likely to have taken on part-time work - with Scotland in second place. Unsurprisingly, Londoners were found to have the highest wages, with 17 percent of the city's students earning over £100 per week.

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