A student at Oxford will spend, on average, £24,760 per year to live and study in the city, compared to the average Cambridge student’s £20,266, according to a recent study by price comparison website GoCompare.com.
Though both universities charge the same fees for tuition, and students at both spend the same on books and academic equipment (£14 monthly), Oxford students spend significantly more on accommodation and socialising.
Oxford students are caught out by hefty student housing prices, which average out at £568 per month for those living in College, and £563 per month for those living out. The average Cambridge student will, by contrast, pay just £433 per month when living in college, and £498 per month when out.
The study also found that Oxford students spend nearly twice as much on their social life (£182 per month) as Cambridge students (£95 per month).
Along with socialising, Oxford students also spend £182 per month on clothes. This is a full six times as much as Cambridge students, who spend just £30 per month.
The study also ranked UK universities by cost. Whilst Cambridge came in 38th place, Oxford and Oxford Brookes were the only non-London universities in the top ten, coming 7th and 10th respectively.
Earlier this year, Oxford University Student Union (OUSU) succeeded in preventing the University from raising tuition fees for the 2015 intake from £9000.
The 2016 intake are, like students at a majority of Russell Group universities, to be charged the maximum permitted by the government, £9250.
Magdalen second year Katie Mennis, describing the lifestyle that her boyfriend, also an Oxford student, leads, told Cherwell: “Being at Oxford is so expensive [for him] that I’m essentially a sugar mama”.
The University and OUSU have been contacted for comment.