The cost of studying in Belfast has become significantly higher in recent years, according to the Ulster Bank Student Living Index.
While renting costs and tuition fees are much lower in Belfast than anywhere else in the UK, typical student loan contributions for students were much lower than the UK average the study found.
It also revealed that other sources of income, including contributions from family and friends and assistance through bursaries or scholarships, were again lower than the UK average.
While students in Belfast try to mitigate this by working a higher number of part-time hours, overall income is the sixth lowest in the UK.
On average, students here work a total of 23.2 hours each month and dedicate 86.8 hours each month to their academic study, just slightly shy of the UK student average of 90.3 hours per calendar month.
While those living near student hotspots may take a different view, the survey reported that Belfast undergrads spend 23.7 hours per month socialising, the fourth lowest in the UK.
“We see huge discrepancies associated with the cost of studying at different cities, so it is important that young people take this into account when selecting the right course for them,” said Terry Robb, head of personal banking at Ulster Bank.
“Once at university, it’s equally important students are managing their finances effectively and learn to budget for the duration of the semester.”
Hull is currently the most affordable city in the UK for students according to the index. Liverpool has overtaken Glasgow as the most expensive place to study with rent, household bills and socialising all well above the UK average.