Freshers spend four times as much on alcohol as food
First-year students spend up to four times as much on alcohol as food, according to a study by licensed UK lottery website Lottoland.
Students in their first year of university allegedly spent £60 a week on alcohol and nights out, compared to £15 on food and groceries.
Over 2000 students responded to the survey, which targeted undergraduates who had lived in either first-year halls or rented student houses in the last two years.
Furthermore, almost three-quarters of respondents claimed to have bought the cheapest food possible to account for multiple nights out, with the majority admitting to going out at least three times a week throughout their first year of university.
The survey also drew attention to how students finance themselves through university. The respondents stated that loan payments from the government would only last for 6 weeks of term.
73% of students told the research team that they had to work part-time alongside their studies, while a third of respondents were forced to rely on bank account overdrafts to pay their way through their first year of student life.
The study revealed a change in the attitudes of second and third-year students. Of those questioned, 62% believed that they had become more money conscious and likely to budget than in their first year.
Dan Hawkins, a spokesperson for Lottoland, welcomed the shift in student spending: “It is positive that so many of the older students revealed that their spending becomes a little more sensible during their later university years.
“This is no doubt due in part to more emphasis being put on education and exams than nights out!”
Hawkins also expressed the opinion that the survey unearthed “concerning” statistics about the amounts of student loan spent on alcohol.
Some students at Warwick disagreed with Hawkins’ verdict. Ryan Weissler, a final-year Engineering student, rejected the notion that first year students should cut down on their spending.
He commented: “Ultimately, you pay for the life experience of university as much as the education.
“You will never get back the time you have in first year to go out with and get to know such a diverse range of people.
“If you have a job that helps you pay for it and your first year doesn’t count towards your degree, who is it hurting?”