Edinburgh is one of the most affordable large universities in Britain for first year students to attend, while studying in Glasgow costs more, according to a report of the biggest 20 universities in Britain.
A typical week at Edinburgh, taking into account factors such as rent, a bus pass and “weekly essentials”, costs £235.03, while a week at Glasgow costs £244.25, according to the study.
Leicester was the most affordable large university in the study, while University College of London and Imperial, both in the UK capital, were deemed to be the most pricey.
However, while Edinburgh performed well in terms of the cost of weekly essentials such as food, activities and university supplies, five pints of beer - deemed by HSBC to be a student’s average intake - costs £16.90 in the capital, but only £13.75 in Glasgow. Similarly, a typical consumption of two bottles of wine costs £10 in Glasgow, the study claimed, but £13.08 in Edinburgh.
The “essential supplies”, however, cost £102.50 in Glasgow and only £83.30 in Edinburgh. A week’s rent in university halls cost £106 in both cities - the same price as the London universities.
By the time students reach second year, however, costs drop substantially in Edinburgh, mainly due to a discrepancy between the cost of a room in a student house - the usual accommodation choice for those in later years of their degree course - and a student hall of residence. In Glasgow, however, rent costs are only marginally cheaper. at £102.50.
Andy Mielczarek, head of retail products at HSBC, said: “As students celebrate their results and confirm their place at university, it’s important they think ahead to how much they’ll need to spend each week, both on essentials and their social life. Keeping to a budget will pay dividends in the long run and will ensure students don’t leave with a financial hangover.
“For parents, explaining the financial implications of university with students is an important step. Planning early and regular saving will make the financial burden of university much easier to manage.”