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Expensive Xmas looms for students in the UK

Wed, 20 Dec 2006
An expensive Xmas is looming for students studying in the UK, a recent survey suggests. A poll conducted by Colleges.co.uk found that many students at university manage to spend their student loans well before their bank accounts are funded with the following term's money.

With so many students in debt and bank accounts low on reserves, many account holders are moving to short term loans to pay off even the smallest of bills, including mobile phone bills, rent and car insurance premiums.

Student bodies suggest that students, especially those with low income families, should budget for their term. A key suggestion was the limiting of the amount of money spent on nights out.

Taking a cash card to a night out can be hazardous, Jonathan Stoddern of Imperial College London stated, as in a drunken haze you can take any amount of money out and not remember where it went.

This is a warning to many students - have a great Xmas, but be careful when you get your money out!