Lloyd's TSB Student Banking: Students stuck with Mum and Dad

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Lloyd's TSB Student Banking: Students stuck with Mum and Dad

Wed 7th Jun 2006

A third of young people starting university this year intend to stay living with their parents, according to research for Lloyd's TSB Student Bank Accounts.

The research carried out for Lloyd's TSB Student Bank Accounts revealed that while students might feel more comfortable financially living at home parents would prefer them to fly the nest and live elsewhere.

A third of prospective students said that if they did not live at home they would not be able to afford to go to university.

Students who are to live away from home admit that money is a concern but 58 per cent added that the independence was worth the stress of making their money stretch.

Marcus Banks of Lloyds TSB Student Banking, said: "With student debts escalating, living at home could seem like an easy way to save money. Before making a final decision about whether to move out, it's worth thinking carefully about all the financial help available."

In the 1990s, students went from being funded by grants to being funded by loans and as the research for Lloyds TSB Student Bank Accounts shows this has affected parents as well as students.

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