BELFAST students benefit from the lowest rents in the UK, but earn the least during term-term a new survey has shown.
The Ulster Bank Student Living Index has revealed that students in Belfast have the lowest rents out of 35 cities surveyed, paying on average £324.96 per month. This is over £100 less than the UK average (£448 per month), but crucially their term time income was only higher than those studying in Glasgow.
Belfast students are among the top-three in the UK when it comes to part-time hours worked, with almost 22 hours per month, placing them just behind Aberdeen (23 hours) and Stirling (29), according to the survey of 3,400 students.
They receive £155.40 a month from term time work – above the UK average of £96.70. However, Belfast students receive less on average than most other UK cities via student loans and from their parents.
In terms of what they do outside of their studies, Belfast students socialise less, spending an average of just 19 hours a month socialising, slightly above London (16) but well below the UK average of 27 hours. However, they spend around the UK average on alcohol, which comes in at around £27 per month.
Of their monthly income, Belfast students spend an average of £34.50 on clothes, shoes and accessories.
Cardiff is the most affordable place for students to study in the UK, closely followed by Aberdeen and Durham. Glasgow is the most expensive.
Managing director of personal banking at Ulster Bank Sean Murphy said:
“Choosing where to study is an important financial decision as for many, it’s the first time that they learn the skills of budgeting and planning their finances for themselves. It’s a really important life-skill to pick up alongside your studies."
