Sheffield students ‘spending five times more than they earn’

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Sheffield students are spending more than five times more than they earn, according to a national survey.

The NatWest 2014 Student Living Index found students living in the city are spending more than students in London, Birmingham and Edinburgh, compared to what they earn.

Students in Sheffield are working more hours than average per week – but are earning less.

Nationally, on average, students are earning £82.40 a week, compared to the £75.90 Sheffield students are bringing in.

Parents are contributing an average of £114.10 to their children each week, despite 22 per cent of students claiming they are receiving less financial support from them.

Students in the city are also studying three hours fewer than the average 28 hours a week.

Sheffield finished 14th in the index of 25 cities ranked by whose students were smartest with money.