Second-year studies reveal the facts of financial life: The economics of the law

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LIANNE WOOD, who is at Selwyn College, Cambridge, has abandoned her economics course and switched to law.

She is planning work experience periods at two City law firms - one for three weeks and the other for four weeks. She will be paid pounds 150 a week, and stay with her parents in St Albans. Commuting will cost about pounds 50 a week.

Her parents have given her the amount of the student loan - pounds 750 - on top of her living expenses, so she has not had to go into overdraft.

She gets around half the grant from the county and half from her parents, who are divorced. Her father gives her money at the beginning of term, while her mother pays monthly maintenance. 'This means I will have some money in the holidays. I will have to buy some clothes for going to work in the City.'

She went into overdraft last summer but expects to be able to stay in the black this year.

She will continue living in college, paying pounds 400 a term plus a compulsory pounds 90 which means she can eat cheap meals in hall.

(Photograph omitted)

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