The annual survey carried out by the Natwest Bank claims that over 40 percent of the 750,000 undergraduates will be working part time during the forthcoming academic year.
The study, called the Natwest Student Living Index, also concluded that working students will earn approximately GBP2 billion over the year, a substantial sum by anyones calculation. The reality of student life is that they have to take on a part time job in order to have enough money to get by.
The Natwest Bank survey is also helpful for students considering where to study as it highlights the best places money wise. Plymouth is deemed to be the best place to be a student where money is concerned, while Exeter is seen as the most expensive.
The first six months of the year has seen Northern Rock record a loss of GBP585 million, primarily through their customers being unable to meet the payments on their mortgage.
The figures provided by Northern Rock show 1.18 percent of customers are regularly missing mortgage payments, which is an increase of 300 percent compared with 12 months ago. The upshot of missed payments is arrears, with the number of people now in this state also up by around 300 percent.
The worry for everyone looking at the housing situation, not just Northern Rock, is that these arrears can turn into repossessions, especially where negative equity becomes a problem, such a situation will be affecting many homeowners who bought their house within the last two years.
A recent study by the Alliance and Leicester has found that almost three quarters of UK adults are cutting back on spending as they deal with the rising costs of living in Great Britain.
The view of around 35 percent of those surveyed by Alliance and Leicester is that their disposable income is decreasing, and will continue to do so as they watch fuel, food and general household bills move ever upwards. Sacrifices are being made in clothes shopping, with nearly 40 percent of people saying they will be reducing their spending, followed by socialising, with around 36 percent of respondents cutting back.
An Alliance and Leicester spokesperson said that the majority of people are feeling things are getting harder now, adding that it is good to see the people of the UK being aware of the situation and doing something about it rather than ignoring what is happening.