Two-fifths are concerned about the level of debt they face. More than one-quarter put money left over at the end of the month into a savings account, but 24% spend it on treats.
"With money tight, 58% of Scottish students worked to supplement their income compared to 48% across the UK as a whole," the report said.
Two-thirds of students in Scotland who worked in term time do so for less than 15 hours per week, earning £8 per hour on average.
Jatin Patel, director of current accounts at Bank of Scotland, said: "It is clear that, even with extra income from employment, a lot of students are still struggling to make ends meet. Some are even finding that the added commitment of combining university with a full or part-time job is having a negative impact on their studies."
Keeping the cost of debt low is crucial, which makes interest-free overdrafts on student bank accounts attractive. Santander offers a maximum of £1500 in years one to three, and up to £1800 and £2000 in years four and five. Bank of Scotland has a similar deal. HSBC is one of the most generous, with an interest-free overdraft of £500 from day one and a maximum of £3000 during the course.
The meanest appears to be Clydesdale. It provides an overdraft of up to £1000 in the first year and up to £3000 in other years but students currently pay 7.49% to use it.
The bank points out that not all students want to go into debt. Clydesdale's Steve Reid said: "Other products, like student loans, are better suited to longer-term debt, whereas an overdraft is intended for short periods of borrowing, when the interest rate is much less of an issue.
"The primary role of a bank account is to provide a safe home for your money and enable you to transact, with an overdraft as a back-up when you need it."
Certainly, no student should blithely run up an overdraft. Worst of all are unauthorised overdrafts, which can be very costly. Clydesdale has one of the highest rates, at 29.99%, while HSBC charges 19.9%. Santander charges £5 a day, capped at 10 days per month. Lloyds TSB and Bank of Scotland charge 8.21%, not much more than Clydesdale's authorised overdraft charge.
Thanks to technology, it is becoming easier to avoid overdrawing by accident, with banks such as Barclays, Bank of Scotland and Santander sending text alerts when you approach your overdraft limit.
Kevin Mountford, head of banking at MoneySupermarket, said: "Students should ensure they can realistically pay back any money they borrow from the bank. It's also worth noting that 0% deals on overdrafts tend to expire after graduation, so students need to plan how they are going get themselves back into the black."
There may be other reasons for students choosing a bank. Santander will reward students who open or switch to its student current account with £50. Bank of Scotland provides a free NUS extra card for three years giving discounts from Amazon, Odeon, National Express coaches and others. Existing Royal Bank customers who get a student account will benefit from a free four-year 16-25 Railcard and a four-week bus pass for Aberdeen, Edinburgh or Glasgow.
Some student accounts even pay interest if your account is in credit. HSBC currently pays 2% during the first year on the first £1000 in your student bank account, while Santander pays 1% on balances of up to £500. However, if you have a chunk of money you don't need immediately, you are likely to get a better deal in a cash ISA.
Most student accounts will require proof you are a student, and you may have to pay in a certain amount each term to qualify for benefits. RBS, for example, requires that at least £750 is deposited every six months, while Santander stipulates £500 each term.
Lynsey Harris from Motherwell started her geography and psychology course at Strathclyde University last year and opened a student account with Bank of Scotland.
She likes the convenience of a debit card, manages the account online and has downloaded the mobile banking app, but she sees the overdraft of up to £1500 only as back-up. "I have not used it yet," she says. "I don't really like spending money before I have made it, but it is always good to be there as a safety net."
A weekend job at Sainsbury's and cash from her parents help balance the books and enable some saving: "I have got a savings account and I go online to move money from my student account into it for holidays.
"That's really helpful because it means you don't have to go into the bank."
The BoS account also offers a three-year NUS card and a £75 booking discount with STA Travel.