New research carried out by the National Union of Students and student housing charity Unipol reveals that the average student rent has risen by a staggering 22% since 2006-07 an increase of 13% above inflation.
Jeremy Phillips, managing director of funding information experts j4b Software and Publishing, said that while the figures were worrying, students should be reassured that there was plenty of funding available to help them meet these rising costs.
"We know many prospective students can be put off by the fear of being burdened with thousands of pounds worth of debt. But there are millions of pounds worth of grants, scholarships and bursaries on offer to help them pay their rent and bills – as well as buy new books, equipment and all the other little added extras they need."
Student Cash Point is a free to use website launched by j4b that is designed to help students access this financial support.
It includes a fully searchable database containing details on more than 3,000 grants, bursaries, scholarships and other awards on offer to undergraduates and postgraduates throughout the UK.
As well as covering the main grants and bursaries provided by the universities themselves, it also has details on hundreds of Government grants, industrial sponsorships from companies like JCB and Ernst and Young, and charitable trust funds.
The website also lets students compare what funding is available at different universities, a feature Mr Phillips points out "allows students to make an informed choice about where they want to study".
Notes to editors
j4b Software and Publishing Ltd is an information services company providing research, information publishing and technology solutions for business, public and community sector organisations.
It is part of the IDOX group, a specialist information and knowledge management company focusing on the development and delivery of software products and content for information and knowledge sharing for information professionals at all levels and consultancy services for local authorities and related bodies.
www.studentcashpoint.co.uk is a free to use website that enables UK students to search through more than 3,000 available grants, scholarships, bursaries, awards and other funding opportunities.
Accommodation Costs Survey 2009-10 is an investigation carried out by the National Union of Students (NUS) and charity Unipol Student Homes. It claims that UK student rent costs had risen 21.9% since 2006-07, a figure 13% above inflation for the period covered. The report can be downloaded from the National Union of Students website www.nus.org.uk