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Leeds the most cost-effective university city
Wednesday, 08 August 2007
Leeds has come first in an index ranking university towns and cities based on their value for money.
The Student Living Index, compiled by the Royal Bank of Scotland, ranks places based on living costs and rent, essential costs and non-essential expenses. This is then compared to the potential earnings from part-time work in the area.
Students in Leeds have to pay up to £186 on rent and living costs a week but can earn up to £128 of that back in part-time employment.
In Nottingham, the most expensive university city, the average part time wage was just over £78 but living costs and rent were almost three times higher at £210.
Katie Cassidy, head of student banking at Royal Bank of Scotland, said: "Our research shows that many students are taking a positive, proactive approach to managing finances by taking on part-time work."
According to research by Engage Mutual Assurance, 24 per cent of young adults believe that a degree is a pointless waste of time and money.