'Students give £260m to the economy in unpaid work experience'
Students are providing as much as 6.8 million hours of unpaid work experience this summer, according to research from credit card provider Abbey.
'Students give £260m to the economy in unpaid work experience'”
Students are providing as much as 6.8 million hours of unpaid work experience this summer, according to research from credit card provider Abbey.
The total worth of students' unpaid work could reach over £260 million, which could have a serious strain on some of their finances, the results suggested.
According to the statistics, one in five students say doing unpaid work experience will have a serious impact on their finances and over half say it will have a slight impact.
Abbey recommends the Abbey Bank Account which offers an interest free overdraft up to £2,000 which could offer students a bit of breathing space if they are not being paid for their employment.
Meanwhile, NatWest has recently launched a student account with an optional credit card.
The credit card has a £500 limit, subject to terms and conditions.
Gillian Almond, head of Abbey Current Accounts, said: "This research shows the vital contribution students make to the UK economy, even before they have graduated. It is important for today's students to be able to demonstrate that they have gained experience outside of mainstream education, but they will need to be financially savvy."
Posted by Sarah Nyman
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