Natwest Bank carried out a survey of 2,500 students, to look at student life and the cost of living in 25 popular university cities across the UK.
The UK bank wanted to find out everything from how much students are spending on everyday essentials such as rent, food and shopping, to how they dedicate time between their studies, part time work and other interests.
The main findings of the survey were:
- Portsmouth has topped the Student Living Index charts as the most cost effective city. Liverpool came second and Newcastle, third.
- Students in London are paying below the national sample average for rent while students in Oxford and Cambridge are paying the most while the cheapest rent is found in Belfast.
- Student loans are contributing £161.14 per week – four times as much as any other source – to a student’s income. Parents are the second largest source of income.
- Those in Manchester and Belfast work the most hours part-time, and therefore spend the least time on hobbies and socialising.
- Those in Cambridge and Oxford spend the most time on academic studies in comparison to other regions.
- Studying for a university degree is 35% more stressful than managing money to students; however, the majority of students still enjoy their degree.
- 52% of students find managing their money stressful, yet only 39% of them have a dedicated budget.
- Those studying at London universities spend the most on travel and eating out in comparison to other regions.
According to the Guardian University Guide 2017, Portsmouth has a 96% intake from state schools.