Research by Lloyds TSB found that, of the 424,560 young people due to start university this autumn, 22 per cent will still live at home.
More than a third of those surveyed doubted they would be able to afford a three-year degree if they did not live with their parents, while almost four in ten conceded that they could afford university, but only by accepting uncomfortably high levels of debt.
The figures have been greeted with concern, with many parents and advisers warning that young people risk losing out if they cannot experience the independence of living away at university.
Marcus Banks, from Lloyds TSB student banking, said: “With student debts escalating, living at home could seem like an easy way to save money. But for many, going to university isn’t just about getting a degree it’s also about learning to live an independent life”.
Mr Banks recommended that students considering living at home look carefully at the financial help available and weigh up the pros and cons of getting into debt.