New data from digital current account Loot, reveals that November 10th is the day that students have officially spent all of their student loan for the first term. Internal data from thousands of students using a Loot current account reveals that students are spending an average of £189 per week, with takeaways, eating out and alcohol accounting for 17.59% of all spending.
To come to the rescue of students and save them from drab meals of beans on toast until the next payment is due in January, Loot has teamed up with online food ordering platform hungryhouse to launch a takeaway SOS service.
Launching on November 10th, the one-off delivery service will be available exclusively to students studying in the UK. Students simply have to follow @lootapp and tweet ‘Takeaway SOS’ #saveoursupper with a photo of their sub-par meal to be in with a chance of claiming a free gift card to spend through hungryhouse.
Ollie Purdue, founder and CEO of Loot commented:
With the excitement of freshers’ week now a distant memory, students across the UK will be looking at their bank accounts wondering where their loan has disappeared to. Most students are now dipping into their savings or relying on family support to ensure they make it through the next eight weeks until the next instalment. To help students treat themselves, we’ve launched a takeaway SOS service with hungryhouse where you can claim a free takeaway treat for yourself and save yourself from another plain meal.
The limited-edition service will be available whilst stocks last.