Cost of living too high, say students

Financial worries are forcing more than a quarter of students to live with their parents when they start university this year, according to research.

Lloyds TSB has found that nearly two-thirds expect to struggle if the cost of living continues to rise, while 38 per cent believe that the cost of a university education will soon outweigh the benefits.

Director of current accounts at the bank Catherine McGrath advised students to seek advice, particularly as 23 per cent admitted to having not yet had any guidance.

“By making the time now for some financial planning and careful budgeting, cash-strapped students should be able to enjoy further education without worrying unduly about making ends meet,” she said.

Last week Bank of Scotland announced the introduction of a new student package, which offers a £3,000 interest-free overdraft facility from the account’s opening until one year after graduating.

© Adfero Ltd

Leave a Reply

Your email address will not be published. Required fields are marked *