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52% of students work to fund uni

20 Aug 2007

52% of students work to fund uni Some 52 per cent of UK students work during university to fund their studies, a new study has found.

The first annual Halifax Student Finances Survey examined the financial status, habits and expectations of students in Britain.

Researchers found that students typically use a combination of methods to pay for their education.

Some 52 per cent of students work while at university, while 50 per cent are helped out by parental contributions.

Scottish students were found to be most likely to have part-time jobs - with 67 per cent finding employment to help make ends meet.

Unsurprisingly, the average student now has debts of over £7,500 - and the vast majority expect take their debts into graduate life.

However, it's not all bad news, as graduate salary expectations have also risen in recent years.

When asked what salary they expected to earn in their first job after leaving university, students said they expected to earn £18,790 a year on average.

Sue Harper, head of student banking at Halifax, said: "These results show just how much debt students are building up while studying.

"These are significant sums for anyone let alone someone who is not yet working full-time."

She continued: "Our advice to students is to budget carefully and to shop around for the best financial deals.

"The difference between the most generous interest-free overdrafts and the most expensive could be worth several hundred pounds over the course of your studies."

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