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Is ignorance truly bliss? Students in Leicester are relying on loans to sustain them throughout their studies, but what happens when the money stops?

Loss of jobs, rising bills and many more stories of similar hardship have saturated the headlines since the credit crunch hit the UK.

But how are students in Leicester handling the country's current financial crisis?

Have they thought about how the economy will affect their future or are they simply enjoying the benefits of student loans and pre Christmas sales while they can?听

After speaking with some undergraduates at De Montfort University in Leicester it appears that most have financial concerns but many are unsure about what can be done.

Commenting on his spending habits, Philip Kapelko, a Product Design student said: "I worry about running out of money. I got an overdraft as a safety measure in case I did. Now I'm 拢300 into my overdraft and I don't want to be.鈥�

Laura Moore, who is studying Criminology and Forensic Science said: "Even though VAT isn't that much it still makes a huge difference to a student."

Financial Sleepwalk

Those I spoke to agreed that the recession is a problem, however it's the banks the NUS, National Union of Students,听 driving the message home.

NUS President, Wes Streeting said: "It is clear that many students are sleepwalking into financial crisis. As the credit crunch kicks in, we can expect more and more students to get into serious financial difficulty, with many having to resort to taking out commercial loans, or being bailed out by their parents."

Lucy Payne, HSBC's Youth and Student Manager commented: "Most students have no idea of the cost of living when going to university. And let's face it, how many of us knew the price of a loaf of bread or a dozen eggs when we left school?"

According to an NUS Students Research report conducted in August, the average cost of university life is nearly 拢450 a year higher than students expect. The biggest expenditure is household bills with an expected payment of 拢580 a year compared to an actual 拢740.

Miss Moore added: "I think its gong to be difficult in the future for people to get a job especially students. We are under-represented in a financial way, with cost of things rising and only a small loan to live off its difficult."