Using the bank of mum and dad is a popular joke among cash-strapped students in Kent.

But a new survey out this week suggests concerns over money are having a greater impact on student life than ever before.

It seems more students are attending universities closer to home in a bid to save the pennies and they are picking courses based on future earning prospects rather than personal interest.

When it comes to choosing a university and course 31 per cent of students nationally said they were motivated to choose their university because it was close to home.

However, in the lowest socio-economic groups this figure rose to 53 per cent.

Head of Information, Recruitment and Admissions Office at the University of Kent Stephen Holdcroft said: “I don’t think this information is a surprise.

“The issues of finance are more pertinent for students anyway and are only heightened by the credit crunch.

“It’s obvious an increasing number would consider local alternatives as a means of reducing their costs.

“We opened a second campus at Medway to assist with local recruitment and we have seen a lot of local applicants applying there whereas they may have applied to Canterbury before.

The survey also revealed the average cost of university life is nearly £450 a year higher than students expect. Prospective students expect more financial help than they will actually receive, with 42 per cent thinking they will be entitled to a bursary to help support their studies. Only 28 per cent actually receive one.

NUS President Wes Streeting said: “We are concerned that opportunities for poorer students remain restricted.

“Fees and spiralling living costs are forcing those from poorer backgrounds to choose a university close to home – this has to be taken into account in the forthcoming review of higher education funding. We cannot allow fees to continue to exacerbate this problem.”