Nottingham is the third most cost-effective student city in the country according to the 2015 Student Living Index.
Undertaken by NatWest, the Student Living Index is a survey monitoring spending habits and the cost of living for students in 25 university cities.
According to the statistics, Nottingham has moved up the list of the most economical student cities by 17 places, having achieved a ranking of 20 in 2014.
Nottingham students also have the third highest term-time income at £44.96 a week, over £11 a week more than the student average.
Nottingham students have the third highest term-time income at £44.96 a week
Kaitlin Barlow, a first year Nursing student, said: “I am quite surprised to hear that Nottingham students have the third highest term-time income a week”.
When asked, 44% of students said they did not have a job during university term time, whilst 18% of those who did said that they worked to pay for university and could not afford to study without the additional income.
Student loans were also the biggest source of weekly income for students, followed by parental contribution, which is said to provide students with £116.09 a week on average.
In addition to investigating the most economical city, NatWest researchers also looked at hours spent on academic study, decision-making when choosing a university and how much students spent on sports, fitness, hobbies and nights out.
Subject choice was the biggest influence when choosing to study at a university for 39% of students
According to the figures released, subject choice was the biggest influence when choosing to study at a university for 39% of students, whilst 32% made their decision based on the academic reputation of the institution.
It was also revealed that the average Nottingham student spends 25.13 hours a week on academic study, below the student average of 27.49 hours per week.
11 hours per week is spent on hobbies and interests and 13.5 hours a week on social events.
Nottingham students also surpass the average weekly expenditure on alcohol – £10.89 – at £11.31.
Tamsin Parnell
Image: Pictures of Money via Flickr
