A recent survey of almost 1,000 current university students revealed student worries over the cost of living. 58% feel they are struggling to get by financially at university. Of the respondents, 48% have a paid job – 59% of whom work under ten hours, 21% work 11-20 hours, 9% work between 21-30 hours and 11% work over 31 hours. The survey has been conducted by The Property Marketing Strategists (TPMS).
85% of students surveyed said that they haven’t spoken to their university or accommodation provider about their concerns, despite 60% saying they are most concerned around not meeting their rent payments. When asked about their priorities of concerns around spend, socialising comes out last.
“Our research reveals the next generation are already concerned around the cost of living. We are all feeling the squeeze from the current economy, but students should be more concerned around their outcomes at university over whether they are going to meet their rent this month. We asked almost 1,000 students to rank their spending concerns, socialising came out last – demonstrating that meeting basic requirements of rent, bills, food, and travel ranks above it; showing the cost of living is impacting their day-to-day.”Sarah Canning, Co-founder, TPMS
The NUS (July 2022) found that 11% of students are using foodbanks, up from 5% six months prior.
“I am concerned if this isn’t addressed, we’ll see a rise in student homelessness, which will have grave impacts on their life paths long-term. Both universities and PBSA providers have a duty of care to their students, a small but impactful change is to include bills in rent to help address this, and long-term we need to address the shortage of quality homes with basic amenities.”Sarah Canning, Co-founder, TPMS