Most students struggle to make ends meet

A significant number of students are continuing to struggle to make ends meet on a monthly basis, according to the latest Lloyds TSB second annual Student Finance Report.

With an average annual income of approximately £7000, around one in six (16%) students surveyed say they do not have enough money to meet monthly outgoings, while two in five (40%) admit they are only just managing their finances but money is tight. This compares to 17% and 40% respectively in 2011.

Lloyds TSB data shows that nearly half (46%) of students’ annual income is derived from student loans. Therefore, it is little surprise that over three quarters (77%) believe they will leave university with some debt, while three in five (60%) expect that debt to be in excess of £10,000. 16% believe they will leave with no debt at all.

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