Scottish capital Edinburgh is the most expensive place in the UK for students to live and Welsh capital Cardiff the most affordable, according to the Royal Bank of Scotland Student Living Index 2022.
Across the UK, 2,964 students were surveyed on their outgoings and incomings in areas such as rent, socialising and part-time work. The findings were then used to calculate a score for the country's university towns and cities.
Overall, the cost of studying in the UK fell 22 per cent, bucking the trend of 2021 when it rose by 7 per cent.
The main driver of the trend has been term-time income, which has increased by 65 per cent in 2022, some way ahead of the 29 per cent rise in costs — a relatively modest increase given the cost of living crisis gripping the UK.
With the easing of Covid-19 restrictions, there are more opportunities for students to work.
Another factor has been the 12 per cent fall in average student monthly rents, a likely corollary of the increased popularity of university accommodation with more than half now choosing this option. One in three still chose privately rented accommodation.
Edinburgh came in ahead of Glasgow, Leeds, Canterbury and London as the most expensive city — the pricey UK capital somewhat surprisingly dropping to fifth from first a year ago
Top 20 most expensive UK student cities - in pictures
RBS ascribes the leapfrogging of London by Edinburgh and Glasgow to the lower average monthly income in these cities.
The data revealed Edinburgh students have a monthly term-time income of £934, the lowest of all the cities ranked, while their total monthly spending is £949.
By contrast London, Bristol, York and Cambridge have all seen great improvements in their positions on the average monthly income index.
The survey also claimed students in Edinburgh are the least likely to combine studying and working during the academic term.
At the other end of the spectrum, Cardiff's affordability was assigned to its below-average rent prices combined with higher-than-average term-time incomes.
Term-time income for Cardiff students averages £2,241.65 and is the fifth highest of all the cities surveyed, and students spend an average of £1,041 in total — the fourth lowest of all the cities in the index.
Beyond the headline findings, the research found more than a third (35%) of students who responded found themselves running out of money by the end of term — 8 per cent higher than in 2021.
And a quarter of recipients said they feel their universities do nothing to help with the ongoing cost-of-living crisis.
“Despite the cost of living increasing dramatically, we’ve not seen that hit students quite as hard as may have been expected this year,” said Laura Behan, head of Royal Bank of Scotland student accounts.
“Rents were set well in advance of the academic year and inflation increased much later into the academic year.
“However, with the cost of living increasing, especially as we look towards the start of the new university year in September, it is vital that students properly manage their finances.”
