Majority of students spend more than half their student loan on accommodation
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The majority of British students spend more than half of their student loan on accommodation, according to research by student accommodation website Uniplaces.com. The survey of 770 students across the UK found that 60% of university students will spend more than half of their student loans on accommodation for university this year, while 17% of students said that they will spend all of their student loan (plus additional money from other sources) on housing. Those studying in the South West and the North West of England were found to be more likely to spend all of their student loans on housing than those studying in London, Northern Ireland and Scotland, who spend the lowest percentage of their loans on accommodation. 70% of students questioned said that they spend less than £150 per week (p/w) on accommodation. Uniplaces found this to be in keeping with the average cost of a bedroom in a privately rented shared house (£97 p/w) or a room in halls of residence at a top 20 university (£136 p/w).
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