Third of students 'live with parents'

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Third of students 'live with parents'

Thu 19th Jul 2007

Financial concerns have led almost a third of students to continue living with their parents even though they have just started university.

Research carried out by Lloyds TSB demonstrates that this compares to just over a fifth of people who continued to live at home during their studies last year.

Some 31 per cent of respondents said that if they did not live at home it would prohibit them from having the financial capacity to go to university.

More than a quarter cited worries about managing their money while at university as a determining issue for remaining at home, while 28 per cent are also concerned about how to make their money last for the full term.

Caroline Brady, of Lloyds TSB student banking, said: "Students face higher levels of debt than ever before and whilst it's essential that they find ways to keep costs to a minimum it is also important that students think carefully about all the options."

She added: "Savvy budgeting skills can really help students to start off on the right foot while they get to grips with managing their own money. A smart approach is to plan ahead and seek guidance now on how to manage your finances to avoid getting into trouble later on."

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