Nearly four in five (78%) students say money worries are causing them significant stress.
This has led to six in 10 (60%) students avoiding social activities with friends, and nearly half (46%) being so anxious they avoid checking their bank balance altogether, according to credit information service Experian.
Nearly quarter (23%) of students are ignoring communications from their bank entirely.
Nearly three-quarters (72%) of students have relied on credit cards to cover living costs over the past year, while third (33%) said they have looked for crisis loans from university support officers.
Nearly half (46%) are too anxious to check their credit score.
One in seven (14%) were considering dropping out of university this year due to affordability concerns, and nearly a fifth (19%) were considering moving back in with their parents or transferring to a university nearby to save money.
Nearly two-thirds (64%) of students expressed a desire for more regular money support clinics and financial advice at their universities.
Experian has partnered with charity the National Association of Student Money Advisers (Nasma) to launch a UK-wide campus roadshow.
The partnership aims to help students access resources to manage their finances effectively.
John Webb, a credit expert at Experian, said: “Trying to make student loans stretch to cover living costs, as well as a social life, can be stressful.
“At the same time, students often find themselves with new credit cards or arranged overdrafts for the first time when they start university.
“Used correctly, these can be a great way to build a positive credit history.
“However, large balances and missed payments can lead to high interest costs and damaged credit scores, but there are ways to help avoid these issues.
“For example, Experian’s research shows that 33% of students are unaware of balance transfer cards, which can be a good way to manage existing debt, and lower interest repayments.”
Kellie McAlonan, Nasma chairwoman said: “It’s vital students are prepared for their student journey, know what to expect, and know that they can access support on campus if they are worried about their money.
“We know from our members that money worries can be prevalent among those studying, so we want to make sure students know that they can reach out for help.
“It’s really important that students facing anxiety due to finances know that support is available.
“Our network of money advisers are professionals who work within universities and colleges across the country, offering free information, advice and guidance, tailored to individual students and focusing on a wide range of money issues, from student funding entitlements to benefits, through to debt and budgeting.”
In August, Censuswide surveyed more than 2,000 university students aged 18 and over across the UK for the research.
