Sheffield named Britain’s most affordable student city
Cambridge was ranked 2nd and Oxford, 4th
Sheffield has been named Britain’s most affordable city for students by NatWest’s 2021 student living index.
NatWest compared the cost of rent, bills, socialising and groceries across 21 university cities to establish the most effective student area to live in.
According to NatWest statistics, this year 55% of students used an app to help manage their finances.
The company revealed that student’s biggest monthly spend was on rent, followed by supermarket shopping, clothes and eating out.
Any remaining money spent by students was on alcohol, travel and activities with a small amount going to charities.
The living index comparison also showed that 59% of students attempted to stick to a budget whilst at university, but many said they failed to do so. NatWest statistics showed that only 4% of university students had confidence in their financial abilities.
This year, Covid-19 made the financial costs of university even harder. NatWest investigated the effects of the ‘continued pandemic’ in their student living index. Statistics showed that only 18% of students felt supported by their university and only 10% were satisfied with the teaching resources provided, resulting in 1 in 5 students feeling like they will be less likely to graduate.
The student living index also covered topics such as mental health. NatWest found that students were less satisfied with university mental health support this year compared to last – a 10% decrease year-on-year.
For more information on the cost of student living in Sheffield and other university cities, visit NatWest Student Living Index.