The most and least affordable cities for students in the UK revealed

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students  Visitor Attraction and Resort Management foundation degree students from Staffordshire University throw their hats into the air after the first graduation ceremony to take place on a rollercoaster at Alton Towers.
The main source of income for students was shown to be student loans. Photo: PA (PA)

Cardiff has been identified as the most affordable city for students while Edinburgh has been named as the least, according to a new study.

The NatWest Student Living Index surveyed 2,964 university students living in the UK on their finances, and looked at how much students spent after their incomes had been taken into account.

The Scottish capital came out as the most expensive place to live, with students spending £949.44 a month on rent and other living costs. Edinburgh is the only city in the UK where student spending outweighs their income.

Read more: Energy bills set to cost more than two months’ wages next year, warns TUC

The survey also claimed students in the Scottish capital are the least likely to combine studying and working during the academic term.

Student loans continue to be the main source of income for students, followed by support from family, funds made from working, bursaries and personal savings.

Cardiff topped the index as the most affordable. The city had below-average rent prices combined with higher-than-average term-time incomes, which made it the most affordable student city, according to the survey.

Term-time income for Cardiff students averaged £2,241.65 — the fifth highest of all the cities surveyed. Cardiff students spend an average of £1,041 in total — the fourth lowest of all the cities in the Student Living Index.

Oxford is now the most expensive place for a pint in the UK, with students expecting to pay £5.50 per drink, closely followed by London with an expected cost of £4.90, the survey found.

This compared with Durham, where students can expect to pay just £3.20 for an alcoholic beverage, and Coventry, where they would expect to pay £3.40.

When it came to budgeting, the research found more than a third (35%) of respondents found themselves running out of money by the end of term — 8% higher than in 2021.

A quarter of recipients said they felt their universities do nothing to help with the ongoing cost of living crisis. The vast majority (91%) of students expect the cost of living to rise further in the next academic year.

Supermarket spending remained the top monthly cost this year for UK students at an average of £76.29 per month, while spending on household bills more than doubled since 2021.

Grocery and food shopping habits have also changed for students, with 46% swapping to supermarket own-brands and 43% buying fewer takeaways, according to the study.

This year students in Liverpool spent £30.50 more than the average UK student on alcohol per month, with Cambridge students spending the least. Oxford students spend the most on takeaways, at £20 more than the UK average.

Read more: UK households ‘counting pennies’ as living costs soar

Nottingham and York students topped the list of those planning to move back in with their parents after university. This coincides with the fact that these are two of the cities in the UK where students rely more heavily than average on financial support from family.

Laura Behan, the head of NatWest Student Accounts, said: “Despite the cost of living increasing dramatically, we’ve not seen that hit students quite as hard as may have been expected this year. Rents were set well in advance of the academic year and inflation increased much later into the academic year.

“However, with the cost of living increasing, especially as we look towards the start of the new university year in September, it is vital that students properly manage their finances.”

Watch: How long does it take to pay off a student loan?

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