North West students are savy with trading and saving

Money

North West students are becoming more imaginative when it comes to making and managing their money, a survey published today by the Student Loans Company (SLC) reveals.

The survey found that girls in the North West are the shrewdest savers, spending over £1,000 less than boys a year on university life – as they say they are more likely to search for the best prices.

The survey also reveals: 

• Female students in the North West are also good at making money, with almost one in four (24 per cent) selling goods, either on eBay or at car boot sales - but only 20 per cent of males do this.
• The top deals that students search for are for their mobile phones and food – again, the girls are better at spotting a bargain, saving £445 a year when compared to boys’ spending on both.
• More than seven out of 10 first year students in the North West say they are aware of how much they need to fund their way through university.
• And over two thirds (71 per cent) said they welcome the financial support provided by the Student Loans Company. 

To mark the start of the application process for 2011/12 finance for students starting university in the autumn, the SLC has teamed up with financial expert, Jasmine Birtles, to give students more advice on how they can find the best bargains and also earn some extra money while studying.

Jasmine Birtles, financial expert, said: "Good for the girls! I'm really pleased to see that students in the North West are making a big effort to manage their money, but I'd like the boys to catch up now. There are lots of ways that students can save and make money and I've included a few of them in my tips below.

“A student loan is an investment in your future and is about the cheapest way to do it - so I recommend you apply for it asap."

Anthony Hill, Assessment Manager from the Student Loans Company, added: “Our research shows that female students are the best at applying for their student finance – online and on time.

"September might seem a long way off, but it is really important that students act now and don’t wait until their place at university has been confirmed. Students can apply now by visiting www.direct.gov.uk/studentfinance.

"This is the best way to make sure they get the first instalment of their loan at the start of the term at university. There is also a calculator on the website that students can use to work out how much money they are entitled to.”