Students 'Paying £75 Per Week in Rent'

by Michael Ross
Published on 26 August 2008
Students 'Paying £75 Per Week in Rent'

Accommodation and food are costing the most for Britain's budding academics, Halifax has found.

New details of how this year's intake of students to UK universities will spend their money have emerged, with rents and food taking the biggest chunks out of the youngsters' budgets.

The new study, from Halifax, found that when students were asked how much they were spending on various items during term time, accommodation came out far on top with an average of £74.70; elsewhere, food (£38.60), alcohol (£20.40) and transport (£14.20) also proved costly.

Region by region, the highest weekly accommodation costs for students were found to be in the south west of England - with typical rents of £90.30 easily besting the £75 national average. The cheapest rents, however, were found to be in the West Midlands and Northern Ireland, where students were charged £53.40 and just £31.40 respectively.

Mike Regnier, Head of Banking at Halifax, said: "Our research showed that for most students weekly living expenses can be upwards of £200 or more.

"It's important for students to not only set a budget and stick to it but to also minimise the cost of any borrowing. This may include keeping the cost of their overdraft to a minimum by selecting a bank account with a 0% overdraft offer."

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Your Comments

Kamaljit Rehal
on 2 Oct 2008 12:59
It is a total rip off in this country.