If you want to save some cash, it appears you should be studying in the north of England, as new research says Durham is the best value for money university in the UK.
Apparently freshers heading to Durham University will find their money goes further, while those at Exeter and St Andrews may be pretty surprised that their chosen uni provides better value for money than ostensibly cheaper colleges.
This is all according to MoneySuperMarket, anyway, who analysed the cost of accommodation, car and home insurance, crime rates and, most importantly of all, the average price of a pint to create the rankings.
Students at Durham will find the cheapest pint at £2.10 – less than half the price Surrey University students will have to pay in Guildford where a beer is a whopping £5.25.
Durham also has the second lowest rental fees in the country – £102 a week – whereas those studying at University College London (UCL) face the highest bills at £185 a week.
Elsewhere, Warwick University boasted the best value student accommodation at just £93 a week, Lancaster proved the cheapest for home insurance at £58 per year, and St Andrews has the best car insurance deals at £596.
Kevin Pratt, insurance expert at MoneySuperMarket, said:
Going to university is life changing, not just for students, but for their parents and families too and managing the financial commitment is a major part of the steep learning curve. Although tuition fees don’t vary a huge amount among the top universities, the cost of accommodation, bills and even the price of a pint differ dramatically.
It makes sense for anyone attending university to think about how to make the most of their money – and that means seeking out the best value deals for their car and contents insurance, as well as tracking down the best student bank account.
Our research found that Durham University gives undergraduates the best deal on living costs, but with average debt totalling £40,000 for most graduates these days, budgeting and smart money management has never been so important, wherever you decide to study.