The Money Charity has revealed that students are increasingly facing prohibitively high living costs whilst at university. The report, which surveyed 150 universities across the UK, exposed that many students have to juggle part-time jobs alongside their studies in order to supplement budgets that can be as low as £40 a week. In most cases it is accommodation and bills, not so-called "pocket money", that account for the majority of the high costs of living. It is also believed that students are being given housing that is "far more expensive" than the standard rate, forcing students to choose where they live based on pricing rather than course and location.
Michelle Highman, chief executive of the Charity explains that, "If even the maximum student support available doesn't cover the cost of student living, then students who receive less than this need their parents to contribute, potentially to the tune of thousands of pounds a year." Meaning that in reality some students may have to drop out of university as neither they or their family are able to provide financial support. The charity notes that accommodation can be as much as £420 per month outside of London and £554 inside, further commenting that both the government and the Student loans companies should explain to parents "clearly and at the earliest stage possible" how much in reality university will cost them.