27 September 2006
A number of students are relying on more than just their current account overdraft when it comes to managing their finances at university.
New figures from the Royal Bank of Scotland have discovered many students are relying on handouts from their parents to help them through university.
This revelation is despite the large proportion of students (45%) who take on a term-time job to help them offset their expenses while studying.
The most generous university parents were those of students at Birmingham who gave their children an average of £152 per week - Liverpool students received the least from their parents at £43.
Other university cities where students fared well in terms of parental handouts were London (£148), Bristol (£137) and Leicester (£121).
Paul Jeffrey, RBS spokesman, said: "The key to managing your finances is careful budgeting. We are encouraging more students to include financial planning in their university preparation. Once at university, our in-branch student advisors can offer valuable support and advice on money management.
"The RBS Student Royalties account, with its excellent interest-free overdraft up to £2,500 and money-saving offers, can also help to ease the financial strain."
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