£3,304 is the cost of first 100 days of university

In our latest research, conducted on behalf of HSBC, we found that the average student spends £3,304 financing their first 100 days of university.

Opinium surveyed 1,000 UK university students and found the average student spends just over £3,300 and 58% of their annual student loan within the first 100 days of starting their studies, while 19% spend the whole loan in the same period.

To fund their first 100 days, three quarters (75%) use their student loan, 42% have help from parents and family, and 16% have a job and another 16% use their overdraft.

The study also found that students spend almost twice as much on alcohol and nights out than on course materials (£626 vs £328 respectively) during this period. However, rent and food account for the most spending at £1,279 and £670 respectively.

Area of spend Spending in the first 100 days
Rent £1,279
Food £670
Nights out / alcohol £626
Course materials £328

Just over half (56%) said living away from home was more expensive than they expected and a third (35%) found keeping on top of their finances overwhelming.