University of Leicester the most affordable student destination for second year running

Posted by ap507 at Aug 13, 2015 10:10 AM |
The University of Leicester is the most affordable destination in Britain for first-year students and second for second-year students
Issued by HSBC on 13 August
  • The University of Cambridge moves into the top ten
  • The Universities of Edinburgh and Leeds move up the top ten most affordable list

The University of Leicester is the most affordable destination in Britain for first-year students for the second year in a row, according to research from HSBC. The research – which looks at the cost of studying at universities in the top 20 British towns and cities with the largest student populations – shows that first-year students in Leicester can expect to spend £192 on average per week. This includes rent in halls, weekly essentials (such as food, activities and university supplies), a weekly bus pass and beer and wine.

The University of Leicester is cost effective thanks to relatively low living and accommodation costs, and beat its costs per week on last year: £192.07 vs £196.47 in 2014. Meanwhile, the University of Cambridge moves into the top ten (from 13th place last year) and the Universities of Edinburgh (6th in 2014) and Leeds (8th in 2014) move into the top five.

Table 1: Cost of living for first-year students

2015

(2014)

University

Weekly essentials

Rent in halls - self catered per week

Student bus pass - per week

Cost of beer (5 pints)

Cost of wine (2 bottles)

TOTAL

1 (1)

University of Leicester

£76.07

£81.20

£7.75

£15.25

£11.80

£192.07

2 (2)

University of Nottingham

£67.24

£102.76

£12.00

£15.00

£15.00

£212.00

3 (3)

University of Cardiff

£92.75

£88.00

£15.00

£16.10

£14.00

£225.85

4 (6)

University of Edinburgh

£81.88

£99.41

£15.00

£17.50

£14.00

£227.79

5 (8)

University of Leeds

£87.00

£102.50

£10.50

£12.25

£16.00

£228.25

6 (5)

University of Bristol

£70.77

£116.86

£11.90

£14.75

£14.00

£228.28

7 (4)

University of Southampton

£90.00

£100.03

£7.33

£18.00

£14.00

£229.36

8 (7)

University of Liverpool

£72.75

£130.55

£9.75

£13.50

£11.48

£238.03

9 (10)

University of Sheffield

£95.20

£114.52

£7.00

£13.60

£12.00

£242.32

10 (13)

University of Cambridge

£91.53

£107.50

£13.00

£19.25

£12.00

£243.28

11 (12)

University of Kent

£90.00

£120.90

£6.15

£17.00

£14.00

£248.05

12 (9)

University of Plymouth

£90.00

£121.16

£9.35

£15.50

£14.00

£250.01

13 (11)

University of Glasgow

£102.50

£110.60

£13.00

£13.75

£12.00

£251.85

14 (14)

University of Newcastle

£122.00

£87.64

£14.60

£15.50

£14.00

£253.74

15 (16)

University of Manchester

£98.63

£122.36

£7.75

£15.00

£12.00

£255.74

16 (15)

University of Warwick

£102.30

£124.00

£9.23

£12.50

£14.00

£262.03

17 (18)

University of Sussex

£120.00

£122.30

£12.50

£17.50

£13.00

£285.30

18 (17)

University of Birmingham

£135.00

£123.00

£8.88

£12.90

£16.00

£295.78

19 (20)

UCL/Imperial

£155.76

£114.87

£14.70

£18.50

£14.00

£317.83

20 (19)

University of Oxford

£120.25

£145.25

£23.00

£19.10

£16.00

£323.60

Nuna Syeda, head of current accounts at HSBC:

 

"Preparing for university is very exciting but for many teenagers it may be the first time they have to pay for their living costs. Setting a weekly budget early on can help manage these costs and enable students to enjoy all that university life can offer."

University of Leicester Provost, Professor Mark Peel, said:

“It is great to see that the University of Leicester is still the most affordable destination for first-year students according to HSBC. It reflects the great value for money that our students get from our range of high quality facilities, including our award-winning Library and Students' Union, and from living in such a vibrant and diverse city as Leicester.”

Cost of living falls for second year students:

University accommodation plays a significant role in the cost of studying for first-year students. Only four university destinations offer self-catered accommodation at an average of less than £100 per week: the Universities of Leicester, Cardiff, Newcastle and Edinburgh. The University of Leicester has the most affordable self-catered accommodation costs at an average of £81 per week, although the University of Cardiff is not far behind at £88.

However, once second year students move into private rented accommodation, the cost of living begins to fall. The University of Liverpool tops the list of most affordable second-year student destinations, with weekly costs of £174. This leaves last year’s winner – the University of Leicester – in second place at £179 per week.

The only destination which sees the cost of studying rise for second-year students is London. An expensive private rental market means second-year students in the capital will pay an average of £355 per week (compared to £318 for first-years).

 

 

Table 2: Cost of living for second-year students

 

2015

(2014)

 

University

 

Weekly essentials

 

Rent in student house – per week

 

Student bus pass – per week

 

Cost of beer (5 pints)

 

Cost of wine (2 bottles)

 

TOTAL

 

1 (2)

 

 

University of Liverpool

 

 

£72.75

 

 

£67.00

 

 

£9.75

 

 

£13.50

 

 

£11.48

 

 

£174.48

 

 

2 (1)

 

 

University of Leicester

 

 

£76.07

 

 

£68.00

 

 

£7.75

 

 

£15.25

 

 

£11.80

 

 

£178.87

 

 

3 (3)

 

 

University of Nottingham

 

 

£67.24

 

 

£75.00

 

 

£12.00

 

 

£15.00

 

 

£15.00

 

 

£184.24

 

 

4 (11)

 

 

University of Warwick

 

 

£102.30

 

 

£59.50

 

 

£9.23

 

 

£12.50

 

 

£14.00

 

 

£197.53

 

 

5 (9)

 

 

University of Manchester

 

 

£98.63

 

 

£65.00

 

 

£7.75

 

 

£15.00

 

 

£12.00

 

 

£198.38

 

 

6 (5)

 

 

University of Cardiff

 

 

£92.75

 

 

£61.00

 

 

£15.00

 

 

£16.10

 

 

£14.00

 

 

£198.85

 

 

7 (4)

 

 

University of Bristol

 

 

£70.77

 

 

£88.00

 

 

£11.90

 

 

£14.75

 

 

£14.00

 

 

£199.42

 

 

8 (13)

 

 

University of Southampton

 

 

£90.00

 

 

£70.50

 

 

£7.33

 

 

£18.00

 

 

£14.00

 

 

£199.83

 

 

9 (7)

 

 

University of Sheffield

 

 

£95.20

 

 

£74.50

 

 

£7.00

 

 

£13.60

 

 

£12.00

 

 

£202.30

 

 

10 (6)

 

 

University of Leeds

 

 

£87.00

 

 

£78.50

 

 

£10.50

 

 

£12.25

 

 

£16.00

 

 

£204.25

 

 

11 (8)

 

 

University of Plymouth

 

 

£90.00

 

 

£77.50

 

 

£9.35

 

 

£15.50

 

 

£14.00

 

 

£206.35

 

 

12 (10)

 

 

University of Kent

 

 

£90.00

 

 

£79.50

 

 

£6.15

 

 

£17.00

 

 

£14.00

 

 

£206.65

 

 

13 (12)

 

 

University of Edinburgh

 

 

£81.88

 

 

£86.00

 

 

£15.00

 

 

£17.50

 

 

£14.00

 

 

£214.38

 

 

14 (14)

 

University of Glasgow

 

£102.50

 

£90.00

 

£13.00

 

£13.75

 

£12.00

 

£231.25

 

15 (15)

 

University of Newcastle

 

£122.00

 

£73.00

 

£14.60

 

£15.50

 

£14.00

 

£239.10

 

16 (17)

 

University of Cambridge

 

£91.53

 

£114.50

 

£13.00

 

£19.25

 

£12.00

 

£250.28

 

17 (16)

 

University of Birmingham

 

£135.00

 

£80.00

 

£8.88

 

£12.90

 

£16.00

 

£252.78

 

18 (19)

 

University of Sussex

 

£120.00

 

£101.50

 

£12.50

 

£17.50

 

£13.00

 

£264.50

 

19 (18)

 

University of Oxford

 

£120.25

 

£98.00

 

£23.00

 

£19.10

 

£16.00

 

£276.35

 

20 (20)

 

UCL/Imperial

 

£155.76

 

£152.50

 

£14.70

 

£18.50

 

£14.00

 

£355.46

 

ENDS

Notes to Editors

Methodology

Research is based on the top 20 universities with the highest student population (sourced from the Higher Education Statistics Agency) UK Press Office social media newsroom:

Cost of weekly essentials obtained from current financial guidance on university websites. Includes cost of food, activities, university supplies etc. Travel and accommodation costs have been excluded where applicable

Self-catered accommodation costs from university websites. Based on the average price for a standard room. Where multiple accommodation options are available, an average has been used

Student rental accommodation from www.accommodationforstudents.com and Rightmove Students. The average weekly rent has been used.

Further information: Steve Gracey: steve.gracey@hsbc.com

For the latest updates, visit the

http://www.hsbc.co.uk/newsroom

http://twitter.com/hsbc_uk_press

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The HSBC Group

 

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 6,100 offices in over 72 countries and territories in Asia, Europe, North and Latin America, and the Middle East and North Africa. With assets of US$2,572bn at 30 June 2015, HSBC is one of the world’s largest banking and financial services organisations.

 

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