Lloyds TSB Launches Student Hub To Support Cash Strapped Undergraduates

Released on: September 1, 2009, 6:41 am
Author: Lloyds TSB
Industry: Financial

Lloyds TSB Student Banking has launched its savvy student hub, an online resource giving undergraduates the tools they need to help manage their money effectively throughout their degree course.

The Savyy Student hub has been launched in response to student concerns about their finances. As part of its annual research* among more than 1000 17-25 year olds who hope to start a degree course in the autumn, Lloyds TSB found that three quarters of would-be freshers think that money management is especially important in the current economic environment.

Yet, despite increased concern, one in ten of those who hope to start university in 2009 admits that their understanding of all things financial is below, or well below, average.

The Savvy Student hub aims to tackle money concerns head on, offering visitors a wide range of resources at their fingertips, including student living tips, and a discount detector which helps students locate retailers in their area who will offer them discounts on goods or services with the NUS Extra card, one of the benefits of the 2009 Student account.

Catherine McGrath, director of current accounts at Lloyds TSB, comments: "Students-to-be are telling us that they are concerned about managing their finances during their degree course and that, in the current environment, money management is more important to them than ever before.

"We want to do everything we can to support young people manage their finances responsibly but also have fun and enjoy their studies. We hope the hub will show them that it is possible to study on a budget, and also that they’re not alone in being concerned about looking after their pennies during their degree course."

In addition to launching the Savvy Student hub, Lloyds TSB Student Banking will be visiting a number of towns across the UK on exam results day, offering students the chance to win £5000 to help them through their studies.

Student ambassadors will be visiting the following locations on Results Day: Bristol, Nottingham, Manchester, Bolton, Bury, Surrey, Redditch, Sheffield, Hull, Leeds, Newcastle, Sunderland and Leicester.

The savvy student hub is part of Lloyds TSB’s savvy saver campaign .

Students can open a student account at any Lloyds TSB branch, by phone or online.

-ends-

Notes to Editors:
* Research conducted online by Ciao amongst 1,052 17-25 year olds who plan to start a degree course in autumn 2009. Research conducted in July 2009.

Opening a student account is subject to assessment of customers' circumstances and further terms and conditions apply. Customers must be at least 17 and a UK resident to apply for the account. A permanent UK resident is defined as a person who has lived in the UK for a minimum of three years prior to commencing higher education studies.

In order to be eligible for an overdraft, customers must be 18 or older. Overdrafts are repayable in full on demand and the amount Lloyds TSB lend depends on a review of the individual's personal circumstances.

Students can apply for the Student MasterCard as long as they are 18 or over, a UK resident and your place at university is confirmed. Whether a credit card is given depends on the review of each individual's personal circumstances.

About Lloyds TSB:
Lloyds TSB offers customers a wide range of current accounts, savings accounts, insurance, personal loans and credit cards, investment and cash ISA accounts designed to meet different customers' needs.

Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority and signatories to the Banking Codes.

Lloyds TSB Bank plc Registered Office: 25 Gresham Street, London EC2V 7HN.
Registered in England and Wales no. 2065.

PR Contact:
Eve Speight
Lloyds TSB Group Media Relations
25 Gresham Street
London
EC2V 7HN
020 7356 2162
www.lloydstsb.com