Rent prices affect university choices

New research suggests that rent prices are playing an important part in deciding where people apply to university.

Accommodation for Students found that rental costs now account for more than 40% of a student's weekly budget, making it their biggest cost.

For those choosing to study in the capital that figure rises to 50%, with students paying £102 a week on average for their London accommodation, excluding bills.

Rents are also increasing in other popular university towns where housing has typically been cheaper, such as Durham and St Andrews, according to the report.

Simon Thompson, Co-Founder and Director of the firm, noted: 'Seven years ago you could live in a private house with flatmates for around £50 a week: now it's acceptable to pay £80.'

'In such a short space of time, the difference is quite staggering,' he added.

Rising rental prices may be one reason why student debt has reached an all-time high of £22bn.