Students turn to work as parental funding dries up
01 September 2009
An increasing amount of British students may have to work to fund their studies due to the economic downturn.
That is the result of a survey commissioned by Halifax, which revealed that one in seven students fear that their parents may not be able to offer financial support in the upcoming term.
The data revealed that 73 per cent of students in the UK now work alongside full time studying, which represents a rise from the 66 per cent that had a job in 2008.
Current account director at Halifax Mike Regnier said: "Our research shows that more and more students have to work to fund their university studies. Many students said they expected their parents to withdraw the financial support they had given in previous years.
"It''s more important than ever that students make every penny count. This includes sensible budgeting and keeping the cost of debt to a minimum."
According to recent research by independent university guide Push, new students in Britain will owe an average of £23,500 after graduation.
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