Students everywhere will struggle to cope with the cost-of-living crisis unless the government steps in, a new survey has warned.
The study by website Save The Student found 82% of students are worried about making ends meet. Worryingly some four out of five have thought about dropping out of university at some point, and this includes 52% who gave ‘money worries’ as the main reason.
One in 10 students in the survey has used a food bank in the last academic year too, and that figure may rise in the new term!
Students are experiencing inflation that is higher than the national average. Living costs have seen a 14% increase since our 2021 survey, with the average student now spending £924 per month. In London, the average is £1,089 per month.
The average student’s Maintenance Loan falls short of covering their living costs by £439 every month. This is a big increase from last year, when the shortfall between average Maintenance Loans and living costs had been £340.
See: https://www.savethestudent.org/money/surveys/student-money-survey-2022-results.html
