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UK university students will leave with immense debt

Mon, 22 Aug 2005
UK students will spend £9bn over the next year, with about £3.5bn going on renting of accommodation, a recent study suggests.

Students are expected to earn £1.7bn from part-time work, with 40% in part time jobs , the Royal Bank of Scotland said.

London was the most cost-effective city to study and work in, as higher wages outweighed the living costs, with Liverpool and Birmingham next, it said.

St Andrews, where Prince William recently graduatd from was the least cost-effective of 24 towns studied.

There is a huge earnings gap as research shows the standard London undergraduate spends £243 a week on living and housing costs, yet only earns £150 from part-time work, leaving a gap of £93 which soon esculates.