It pays to be a prudent student and keep down those university costs
PUBLISHED: 18:15 13 July 2011 | UPDATED: 19:42 20 February 2013
Ashley Young looks at way of keeping down those university costs
With the recent publicised news about increased tuition fees still ringing loud and clear, I was very interested in reading and researching recent studies regarding what the total cost is for a years tuition fees, rental accommodation and living expenses.
Research carried out by "Homes for Students" states that for the average Russell Group Student (Newcastle University comes into this category) enrolling after 2012, their first year in University will cost 16,407. This equates to 9,000 in fees, 3,807 in self catering on-campus accommodation and an estimated 3,600 in living costs.
Students can, however, save money by renting privately in most of Englands major university towns and cities. The average student at university can save over 9% by renting privately-owned accommodation for an average of 3,448 - a saving of almost 1,100, compared to renting university accommodation for three years, although in Newcastle and Jesmond the saving will be smaller.
Admittedly, rents in the private sector are strong and possibly increasing - but they are still below matching the cost of a room in a university hall, which covers cleaners, wardens and layers of university administration.
Students are taking note of this as they move into private flats after their first year and with the rise of the financially prudent student, it could become commonplace to avoid university accommodation altogether.
Also, like those living in halls, if students live with other students they dont need to pay council tax and unlike most university residents, they will not be told to leave at the end of term.
Students do have an alternative by choosing to stay at home, but for most people wanting to attend the best universities, this is not an option and would undermine the ethos of the whole British student experience.
If some students do decide to search for a suitable course at their local university with the intention of staying at home in an attempt to avoid graduating with debt, then student landlords will need to step up their game in order to attract a reduced number of tenants. As I have mentioned in an earlier column, gone are the days when students would be forced to accept any standard of accommodation.
The landlords who are doing well out of this market are the ones providing quality accommodation with decent furnishings, internet access and the like. Good luck for the future.
Newcastle estate agency, Welcome Homes are experts in property lettings. Impartial advice is offered to both landlords and tenants when either renting out or moving into your new home.
Our powerful marketing techniques and recent exposure with media and the BBC offers huge exposure to our clients which includes TV and media, large corporate, professionals and students. Call.0191 281 9692. Welcome Homes, 3a Clayton Road, Jesmond, Newcastle Upon Tyne.