Australia 'is the world's most expensive place to study'

Australia is the most expensive place for people to study, a new report published by HSBC has found.

The research – which was conducted in the UK – discovered that taking a three-year degree down under is certainly not a cheap business.

It showed that living costs in Australia are more than £2,000 ($3,097) higher for students than in any other country.

The rest of the top five most expensive places to take a university course was made up by the US, Canada, UK and the Netherlands.

"While many people have focussed on English speaking destinations, our research shows that these are among the most expensive places for English students to study," commented HSBC head of FX James Yerkess.

Clearly, people who head into further education in Australia need to be extra careful with their money, which is why it is so important to compare student bank accounts.

Different providers will offer larger overdrafts and the interest rates attached to these can vary between each company, so never settle for the first account you come across.

Have a question about student banking? Ask the money gurus at Mozo Answers.ADNFCR-1761-ID-801478706-ADNFCR