5:50pm Monday 1st September 2008
By Michelle Archard
MORE and more cash-strapped students are choosing to live at home with parents while at university.
With high accommodation costs and rising household bills and food prices, young people are saving money by remaining in the family home rather than going further afield and living in halls of residence.
In the East of England, as many as one in five students starting university plan to live at home in a bid to save money, and 30 per cent say they could not afford to go to university without the option of staying with mum and dad.
While these students leave university with less debt than others, they say it’s a win-win situation as they are not missing out on student life because they are still near enough to experience the social aspect of university.
Michael Turner, 19, is one student staying at home in Westcliff and paying a small weekly rent to his parents to save some money. He is on a BSc honours sports studies course at South East Essex College, Southend.
Michael, of Shakespeare Drive, Westcliff, said: “My decision to study locally was easy.
“I had done a diploma course at the college, I knew the tutors and my friends were staying on for the same course.
“It made sense to stay at home.
“I live ten minutes away from university, so I’m saving on living costs, accommodation and travel because everything I need is within walking distance.
“It also meant I could keep my part-time job and earn a bit of money.
“I don’t feel I’m missing out because my parents go away a lot, so I have to be independent and am responsible for myself, while the nightlife here is good.
“Most of my course mates are local and there are only a few who are from further afield and have to rent somewhere.
“I think most people realise it makes sense to live at home.
“My sister lived away for university and my debt will be much less than hers.”
By keeping his job, Michael is among 22 per cent of young people in a survey by Lloyds TSB bank who work during their studies to help manage their finances and reduce their debt.
Three quarters agree living at home is a great way to save money, while money worries top the list of concerns for new university students.
As well as the issue of tutition fees, young people are worried about living costs, with 39 per cent of students worried about managing money, and 66 per cent say it will be difficult to afford university if the cost of living continues to rise.
A third say that soon the cost of going to university will outweigh the benefits of a university education.
Zero rent meant we could buy equipment
IDENTICAL twins Rachel and Emma Bagley, from Benfleet, have just graduated from South East Essex College with a BA Hons in fashion design.
They lived with their parents for the three years rather than renting accommodation.
They both applied to the London College of Fashion and De Montfort University, in Leicester, before opting for the course in Southend.
Rachel, 21, said: “With all the fabric, equipment and machinery we had to buy for our collections, there’s no way we could afford to have rented a room in halls of residence and lived away from home.”
The twins say saving money for their course was among the reasons for staying near to home, as well as saving on an expensive commute up to London or moving away.
Rachel said: “When we looked at all the facilities, Southend had everything but better because it was new. Our course also meant we did a lot of independent work at home. If we’d been in a dorm we wouldn’t have had the room for the amount of equipment we needed.
“We took over the spare room, loft and dining room at home with our seven machines. We had sewing, knitting and embroidery machines and lots of wool and other materials to store.
“We had to use almost all our loan to pay for that, so we wouldn’t have had the money for food and accommodation. We had the best opportunities by staying locally because we were so close to London. It was also a godsend our parents didn’t charge us rent.”
The twins are now busy job hunting. Rachel wants to be a buyer to work with wearable electronics, while Emma wants to work in visual merchandising setting out a store or as a buyer.
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