Hidden perils of library fines et al – A MyBnk investigation

A book here, a day late there...

Rent, nights out, food and travel – these are the things you think of when you’re staring at your new shiny student bank account.

BOOKS? Well, they come free down the library don’t they? Hmmmmm.

Limited books and borrowing times means most have to buy textbooks, the average unigoer spends £310 a year on purchasing books and stationary, though this could be less if you went second-hand and ever better if you flogg em when you’re done!

In fact London university students forked out nearly £6million on library fines and print credit in the last academic year – and left £2million behind in their print accounts.

We’ve all been caught out with a one week loan or misplaced a book at some point, but with rising rent and inflation, the cost of uni life is steadily increasing and many are not factoring this into their basic money management.

Don't let a uni debt knock you off courseOne student paid out £700 to settle a library fine and maximum fines range from £10-£150 per book.

Not many people know this but if you have any outstanding debts with your uni, you cannot graduate!

Some unis don’t have library fines, the University of Westminster for instance withdraws services for every day a book is late.

A printer from Argos would set you back £26.99 and with recycled paper and printer cartridges, the costs, between flatmates, would be next to nout.

If you’ve any questions on managing the cost of uni life, head on over to our Facebook page!