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Students 'staying at home to manage their debts'

One in four students are choosing to stay at home while they study so that they can save money.This is the main finding of new research on student spending habits from Lloyds TSB, released today.The study found that the stay-at-homes were slightly less numerous than last year, when they made up 31 per cent of the student population.When asked why they were not moving away to study, one third of the group told Lloyds TSB that they wanted to cut costs, while a further quarter said that it was a good way of helping them manage their debts.Catherine McGrath, director of current accounts at the bank, said: "Going to university isn't just about getting good grades, it also has to make financial sense. For many, living at home or taking on a job is a sensible option to help cut down the cost of their studies."However, university is also a great time to spread your wings and get a little life experience. By making the time now for some financial planning and careful budgeting, cash-strapped students should be able to enjoy further education without worrying unduly about making ends meet."

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