UK Money News
31st July 2008
Debt-hit students living at home
More and more students are opting to live at home during their time at college, in a bid to avoid building up unmanageable debt, it has been revealed.
In a poll of young people conducted by TSB, 27 per cent who were starting university are choosing to stay at home to save money.
Meanwhile, 33 per cent said they would not have been able to afford to enter higher education if they did not have the option of living with their parents.
Catherine McGrath, director of current accounts, Lloyds TSB, comments: "Going to university isn't just about getting good grades, it also has to make financial sense.
"For many, living at home or taking on a job is a sensible option to help cut down the cost of their studies."
The National Union of Students has calculated that the average student leaves college owing £20,000.
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