Cost of living crisis leaves students struggling
Rising food prices, soaring rents, and high energy bills have made the last few years tough for everyone, including students. With maintenance loans not rising fast enough to match inflation, many have been left struggling. Sadly, it doesn’t look like improvements will be made any time soon. The cost of living crisis is here to stay!
Universities, who are also facing financial difficulties, are finding themselves making changes. They are organising food banks, increasing bursaries and seeing their students miss teaching for part-time work instead.
How has the cost of living criss affected students?
Findings from Generation Rent have revealed that student hardship fund applications across 27 universities have increased by 82% between 2019/20, and 2022/23.
Meanwhile, two thirds of students have decided to skip meals due to money concerns, a 3% increase on last year, according to Save The Student. 9% were found to have used a food bank, and 53% acknowledged their diet has suffered due to the panic over staying afloat financially. 81% now worry how they will make ends meet.
Maintenance loan
One of the biggest factors affecting students is their maintenance loan. On average, a student in England received £7,202 a year, with a monthly shortfall of £504. This has been blamed on the rising cost of everyday essentials.
Rent
In addition, soaring rents have introduced further challenges for students. In London, students pay on average £1,264 per month in living costs, with those in the South West paying £1,189 per month. The South East fell just behind at £1,187. Universities also have just half of the affordable on-campus accommodation needed for students, with one in six on campus university rooms being affordable.
As a student who spent three years in Bristol, I know from first hand-experience how expensive the city can be. I was paying over £600 (excluding bills) each month to live in properties that had damp and mould issues, which landlords didn’t seem overly concerned to fix. Students are now looking into affordable cities when it comes to their education, or choosing not to move out.
Thankfully, many of the properties listed on our website include bills in the rent. This means for students they don't need to be concerned over rising costs and or limiting when they turn the heating on, which can cause subsequent effects to both the property and their own health.
What are universities doing to support students?
In October, at the University of Bristol, the Students Union released new initiatives to help students. This includes affordable meals on campus, accessible STI testing, a swap shop and a gender expression fund.
Moreover, since 2022 Newcastle University’s Students’ Union has been running a free pantry initiative where students can take what they need, and the pantry is supported by donations from the university and Fare Share.
The University of Greenwich are also providing free community breakfasts on Tuesdays and Thursdays, and dinners on Mondays and Wednesdays. Meals are offered on a first come first served basis which can be booked online.
So, although universities are making some effort to support students, there is still a battle ahead. Maintenance loans need to rise, and rent and food prices need to lower. Until changes are made, students will continue to face the cost of living crisis.
