Lloyds TSB Student Account research highlights student money problems

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Lloyds TSB Student Account research highlights student money problems

Tue 25th Jul 2006

Financial constraints have meant three quarters of people planning to go to university this year are also planning to get a job to help support themselves, according to new research for the Lloyds TSB Student Account.

Many others are thinking of living at home with their parents as around a fifth of those surveyed said they were considering this money saving option.

In addition, many parents revealed that they are having to take money out of their savings accounts in order to fund their child's university future.

Marcus Banks from Lloyds TSB student banking commented: "Students are expected to go from having no experience of managing their money and no debt whatsoever to having to deal with multiple bills and escalating expenses."

"Starting out on the right foot is essential, as budgeting from day one can help avoid more serious financial problems in the long run," he added.

The Lloyd's TSB Student Account offers a financial advice helpline and a free iPod shuffle, while stocks last.

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