Chester, UK -- (SBWIRE) -- 09/19/2011 -- With the impact on the recent recession hitting hard and university fees rising, Student Money Saver can confirm that the UK this year will see the rise of the stay-at-home student as youngsters look to save their student money.
Accommodation in student halls costs an average of £3,800 a year according to recent report so thousands of new students are choosing to study a degree closer to home in order to live with parents and avoid racking up debt.
Last year more than 310,000 students chose to stay at home whilst 8 in 10 of these claimed it was to save money. With estimates suggesting that students are expected to pay around £48,409 in course fees and accommodation when the fees triple this year, this figure is expected to grow for the academic year 2011/2012.
Those choosing to stay at home have been able to earn a living whilst learning thanks to part-time jobs. Earning through part-time jobs, saving money on accommodation and with student loans has meant that most stay-at-home students have avoided going into the red.
Of course, there are restrictions from choosing to stay at home. Students who choose not to live on campus have missed out on building friendships like other students living in halls and student accommodation.
One student commented "If you live at home you have to make that extra bit of effort to go to parties and nights out. After my first year of uni, I've learnt that I need to make more of an effort to go out and socialise with friends from my course next term. Sometimes it's harder to get the energy to go out to town, because I don't live across the road from the clubs like other students. But if you never go, then you stop being invited.”
Students looking to save money and find out more on money saving schemes as well as details on student loans, finances and discounts, visit Student Money Saver for more information.