Dundee’s students are the canniest in Scotland when it comes to financial matters, according to new research.
It seems the city’s 20,000-plus scholars are also studious when it comes to watching the pennies, as they had the smallest weekly outgoings of any university town or city surveyed by the Royal Bank of Scotland.
Its seventh Student Living Index shows Dundee to be the most cost-effective place to study in Scotland and the second most cost-effective in the UK.
The city’s students are reckoned to spend an average of £175 a week and work the longest hours earning more than £100 during a 20-hour working week to boost their income.
Two-thirds said studying would be too expensive without the added income from a part-time job.
Tom Adamson, head of student banking with RBS, said, “The results from this year’s RBS Student Living Index clearly show that Dundee’s savvy students are keeping their finances in check.
“As well as being resourceful when it comes to taking on more part-time work, an increasing number of students are showing significant responsibility and practicality by funding themselves through university.”
He added, “Taking these proactive steps to manage their finances is enabling them to continue to enjoy university life and prepare for their future.”
The survey found that London was the most cost-effective city in which to study, having taken into account expenditure, income and living costs like rent, clothing, books and study materials, food and socialising.
A Dundee University spokesman said, “We welcome further confirmation that Dundee is the most cost-effective city in Scotland to study in and one of the most cost-effective in the UK for students.
“From the feedback we have gathered we know that this contributes to the positive experience reported by Dundee students and is one of the main reasons why people choose to study here.”
He added, “It is not uncommon for students to work while they study and we have a full range of services in place to help them achieve a good work-study balance.”
The result marks an extraordinary turnaround for Dundee, which finished 17th in the RBS league table last year-behind Edinburgh, Glasgow and other cities often seen as expensive.
At that time an Abertay University spokesman insisted that Dundee was value for money for higher education, and said the survey should be “taken with a pinch of salt.”
There were also concerns that the small sample size could distort results.
This year’s survey also found that Dundee’s students dedicate almost 20 hours a week to their studies, while Edinburgh students spend around nine hours longer.
Glasgow finished fifth in the table, behind Manchester in third and Plymouth in fourth. Edinburgh came in 17th place, dropping from 10th last year.