The results of the Times Higher Education Survey (published on March 8th 2012), revealed that debt is still a big deciding factor in choosing whether to go to University. The survey showed that a quarter of current University students would not have gone to university if they had to pay the new £9,000 a year tuition fees.

With debt having such a profound effect on student life, it is time to look for current accounts that offer rewards. Secure Trust Bank have a prepaid credit card scheme that gives you up to 4 per cent cash rewards at a selection of high street retailers, which is perfect for students who are tightening their purse strings.

Students were also revealed to be cutting down on alcohol and spending less money on food. With a prepaid credit card scheme, costs such as these can easily be catered for. The scheme gives you the option to keep money in a current account for essential monthly outgoings, such as rent and bills, and the remaining finances can be put onto a prepaid credit card. This can then be used for non-essential purchases and treats.

If you are a student, these schemes are well worth considering to make the most of your existing finances.