Some 31 per cent of those starting university this year intend to remain at home as they carry out their studies. This compares to just 22 per cent of those who went to university last year.

The research from Lloyds TSB indicates that many of those who are staying at home with their parents are doing so because of the financial repercussions of finding accommodation elsewhere.

Nearly a third of the students surveyed said that it would be impossible to afford the university experience if living expenses were added to tuition fees and the cost of books. Some 79 per cent said that staying at home is an easy way to save money and 27 per cent said that it would allow them to avoid excessive debts.

A quarter (26 per cent) of those who will be living away from home next year were found to be worried about managing their money. Even more (28 per cent) expressed concerns about the chances of making their money last a full term and 20 per cent said they would like more support when trying to set a budget.

Caroline Brady, from Lloyds TSB student banking, said: "Students face higher levels of debt than ever before and whilst it's essential that they find ways to keep costs to a minimum it is also important that students think carefully about all the options.

"Savvy budgeting skills can really help students to start off on the right foot while they get to grips with managing their own money. A smart approach is to plan ahead and seek guidance now on how to manage your finances to avoid getting into trouble later on."

Of those who will be living away from home next year, 75 per cent attributed their decision to the desire to be close to the campus. Nearly as many (69 per cent) said that they had been driven by a willingness to gain independence.

According to the National Union of Students, the average degree now costs £20,000, when all expenses are taken into account.