Three in four are working part-time in order to pay their way, HSBC has found.
Three-quarters of full-time students are having to take on paid work in order to make ends meet, HSBC said today.
The research, funded by the bank and carried out by the National Union of Students, suggests that increasing numbers are turning to part-time work, such as bar and retail jobs, in order to pay for rising accommodation and food costs. The new data is also in line with figures from the department for employment and learning, which found that part-time work generates 79 percent of students' total income.
HSBC warned that these jobs are likely to become harder to come by as the credit crunch continues, with many restaurants and shops looking to reduce staff numbers in order to save money. Indeed, total UK unemployment has increased by around 70,000 since the start of the year.
However, this could be offset by demographic trends relating to workers from Eastern Europe, who have taken up service jobs in recent years.
Lucy Payne, youth and student manager at HSBC, explained: "The unemployment rate amongst students hasn't risen much to date and, in fact, there is a lot of anecdotal evidence of migrants from Eastern Europe now opting to return home, which could make things a little easier for students seeking work.
"However, students need to be prepared for the possibility of not being able to find a part-time job as easily as they'd hoped. Budgeting is absolutely critical if you want to keep control of your spending and for students who want that financial freedom during their time at university, this is a very important skill to learn."
