Middle-income parents will be forced to pay more for their children’s university education after the Government miscalculated the number of students eligible for grants.

It was forced to renege on some of its funding commitments after admitting it had underestimated the number of people entitled to a full student maintenance grant this year by almost 10 per cent.

Teenagers from the poorest homes have their hands tied when choosing a university because most can only afford to live at home, a study published today shows.

More than half - 53% - of students from families who work in manual jobs or are on benefits chose their university because it was close to home, a poll by the National Union of Students and HSBC found.

1. Organise club nights

With many students out on the tiles two or three times a week there’s money to be made in entertaining them. Birmingham University graduate Gary Linton set up his own promotions company with a couple of friends in the holidays before his final year. "We established a brand, set up a website, scouted out suitable venues, designed flyers and hired bands." As the money began to pour in – at its peak, the company was pulling in profits of between £800 and £1000 each week – they were able to employ a team to hand out flyers and a manager to oversee them. "It was a fantastic experience and I learned a lot about running a business. But it did require a good deal of work".

They go to one of the world’s most prestigious universities and pride themselves on their superior intellect but almost half of Cambridge students admit they are not immune from the temptation to cheat and submit essays they find on Google, a survey suggests.

The results of an anonymous online poll of more than 1,000 students conducted by the student newspaper Varsity found that 49 per cent of undergraduates pass other people's work off as their own at some point during their university career.

The government is considering cutting student grants and freezing the number of university places after it drastically miscalculated increases in the bill for higher education, the Guardian has learned.

It would constitute a major U-turn, reversing last year's pledge to raise the number of students eligible for free money while they study and a key policy to boost the number of graduates.

With many students out on the tiles two or three times a week there's money to be made in entertaining them. Birmingham University graduate Gary Linton set up his own promotions company with a couple of friends in the holidays before his final year.

"We established a brand, set up a website, scouted out suitable venues, designed flyers and hired bands."

As the money began to pour in – at its peak, the company was pulling in profits of between £800 and £1000 each week – they were able to employ a team to hand out flyers and a manager to oversee them.

"It was a fantastic experience and I learned a lot about running a business. But it did require a good deal of work".

British universities have slipped down the world rankings as they compete ever harder with eminent institutions overseas.

Cambridge and Oxford have lost ground to Harvard and Yale, while fewer British universities are in the top 200 list, published today, than last year.

A university degree has never been so expensive and the rising cost of everything, from pasta and baked beans to rented accommodation, will not help undergraduates trying to stay out of debt. In our second feature on student finance, Times Money shows how to make each loan payment last until the end of term.

Budgeting

Draw up a weekly or monthly budget for food, socialising, clothes and bills - and stick to it. Catherine McGrath, of Lloyds TSB, says: "You can't throw caution to the wind and go wild with your cash. Part of managing your own budget is realising that you have financial limits and sticking to them."

An Urban Studies and Planning student from the University of Sheffield has been announced winner of the Association of Women in Property National Student Award 2008.

Marie Reaveley received the accolade at the 'Best of Best' Awards dinner, held at Claridge's in London.

In addition to a crystal trophy, Marie wins £1,000 plus other benefits which were part of the prize package for all nine regional finalists, including £500 each, access to Women in Property's mentoring scheme, membership of the 1,600 strong Association and support in seeking a work placement.

Some of Britain's most prestigious universities have the unhappiest students, with widespread dissatisfaction over poor teaching and lack of support from staff, according to a new league table based on official figures.