There is no getting away the rising cost of university living. Now that the tuition fee structure has changed from 2006 onwards, the general cost of student living is expected to increase by £4,912 to £33,512 during a typical three year course.

Managing your student finances is vitally important for getting the most out of your time at university. Good though the government student loan scheme is, it is often insufficient to cover a worry free lifestyle without resorting to frugal living.

A Student Bank Loan allows you manage your money as you choose. The loan will be payed back only after completion of your course with interest according to the terms of interest.

There are many available deals on offer. All the usual high street banks offer student bank accounts, purposely designed to provide extended funds. You may already have a savings account design for those at school, but this does not mean you have a student account with them.

Banks now offer numerous gimmicks to lure in students with discounts off books, concerts etc. But in all instances, it is vital to examine the baiscs:

What are the overdraft facilities like?
What are the interest charges if you happen to exceed your limit?

As tempting it is to borrow the largest amount, remember that the money has to be paid back, and some banks expect repayment much quicker than others.

CB