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Credit crunch 'causing more students to work'

28 Jul 2008

Credit crunch 'causing more students to work' The credit crunch could be forcing students to work during their studies because there are fewer financial products available to them, it is suggested.

Online money resource FinancialAdvice.co.uk notes banks are aware the current economic climate is preventing some undergraduates from being able to manage their debt, meaning they are less willing than before to lend to them.

This means more have to work during term-time, it continues.

Furthermore, the website asserts, undergraduates do not have access to the same benefits and offers as they did previously.

Instead of the financial incentives or free gifts such as iPods which were previously offered to encourage students to go to a particular bank, many organisations now offer gifts such as cinema tickets, it claims.

"While the famous student credit card offers will return at some stage, they may not be available for many in further education at the moment," it adds.

Earlier this month, online resource Moneyfacts.co.uk urged new students to take control of their finances from the start and to consider all accounts carefully before choosing one.

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