Ever feel like your maintenance loan each term disappears from your bank account before you know it? Well, maybe your landlord is to blame. According to University Cribs, 51.8% of UK students pay more than £100 in rent each week.
That’s over £5,000 a year.
Three years ago, only 36.6% of students were paying such an extortionate amount for the roof over their heads, but prices have soared since then. Unsurprisingly, the problem is worst in London and the South East, where more than 80% of students are paying over £100.
If you’re looking to save your money, student accommodation is cheapest in Wales and the North East.
Given the rising cost of rent, it’s no surprise 48% of students now work part-time alongside their studies. A further 19% rely on a holiday job to top up their bank account.
It’s not all bad news though, as the fight-back against expensive student rents has already begun. This year, the National Union of Students backed a rent strike for the third year in a row, and protesters in London last summer successfully forced University College London to abandon planned rent increases.
Instead, the university pledged £350,000 to fund accommodation bursaries for the current academic year, and froze or reduced rent in university accommodation.
Lead image: University of Exeter
