Half of students work to help fund their studies
A SURVEY published today reveals that 50% of students work to help fund their studies. In addition to spending 28 hours a week on their course, almost two-thirds of students (58%) do paid work for 11 hours or more. Most universities recommend students do no more than between 14 and 16 hours work a week in addition to their studies.
Endsleigh’s survey of over 2000 students, conducted with the National Union of Students, found that slightly more girls took part time jobs than boys, with 52% working in term time or the holidays compared to 42% of boys.
One in four students cited a part-time job in term time as their ‘main source of income’ although student loans remained the most popular choice with nearly three quarters (73%) of students using the loans for support. The bank of mum and dad was not far behind with over half of students (51%) relying on help from parents whilst at university.
Almost a quarter of students (22%) admitted using their overdrafts to get through university but a lucky one in ten (10%) receive some form of company sponsorship to help with their costs.
Sara Newell, Student Market Manager, Endsleigh Insurance, said:
“For many students, having a part time job at university is no longer a choice but a necessity. There is clearly a lot of pressure on students to think about finances but there is advice out there and we would encourage students to start thinking about money before heading off to university so that cash flow worries don’t stop students having a fantastic university experience.”
The survey was conducted by NUS online during April/May 2012 and surveyed 2072 representative university students.