New report exposes how students are struggling with cost of living crisis
A new report has found that one in four university students are likely to end their studies prematurely due to pressures from the cost-of-living crisis.
The report by the Sutton Trust, a charity dedicated to increasing social mobility, surveyed 1,050 current undergraduate students in January and asked them about how the cost-of-living crisis has affected them. Sixty three per cent of students found that they have been spending less on food this academic year compared to 2021-2022. Twenty eight per cent of students have said that they have skipped meals to save on food costs. When only working-class students were asked, that number rose to 33 per cent.
Other expenses which students have been cutting down on include 47 per cent who have stopped or reduced going out with friends and 43 per cent using less electricity or gas in their homes. 6 per cent have moved back in with their family to save on rent and bills. 18 per cent have avoided buying university supplies such as laptops and textbooks and 9 per cent have stopped or reduced their attendance at university societies.
Speaking to The Independent, Sutton Trust founder Sir Peter Lampl said: “To make sure that students can afford to fully take part in their course and wider university life, the Sutton Trust is calling for the Government to urgently review the amount of funding and support available to students”.
A spokesperson for the Department for Education has also said: “We recognise students continue to face financial challenges, which is why we are increasing loans and grants for living and other costs for a further year”. This support includes an additional £15 million to be made available for university hardship funds.