Students Face "Never-Ending Cost-of-Living Crisis" as Maintenance Loans Fall Short

The cost of living is taking a significant toll on university students, with many struggling to make ends meet due to maintenance loans that consistently fall short of costs. According to a recent survey by Save The Student, students are spending an average of £1,142 per month, rising to £1,269 in London, leaving them with an average shortfall of £500 per month. This has been particularly evident in the decline of parent contributions, which have dropped to £146 per month, the lowest since 2021.

Key Takeaways:

• Students are facing a significant cost-of-living crisis, with average monthly spending rising to £1,142, and an average shortfall of £500 per month in maintenance loans.
• Parent contributions have decreased to £146 per month, the lowest since 2021, particularly affecting middle-income families.
• Average reported student spending has risen by 3.4% from last year, but is still lower than the peaks seen in 2022 and 2023.
• The Student Loans Company confirmed the average maintenance loan received in England for 2024/25 was £7,678, translating to around £640 per month, leaving students with a £502 monthly shortfall.
• Nearly three in five students (59%) reported skipping meals at least some of the time to save money, and more than two in five considered dropping out of university due to financial concerns.
• More than three-quarters of students worry about making ends meet, though this is lower than the 80% who were concerned in the past three years.

Statistics:

• Average monthly student spending in the UK: £1,142
• Average monthly student spending in London: £1,269
• Average shortfall in maintenance loans: £500 per month
• Decrease in parent contributions since 2021: £25 per month (£171 to £146)
• Increase in student spending since last year: 3.4%
• Average maintenance loan received in England for 2024/25: £7,678 (£640 per month)
• Students skipping meals to save money: 59%
• Students considering dropping out of university due to financial concerns: 42%
• Students worried about making ends meet: 77%

Sources:

• Save The Student's annual survey
• National Student Money Survey (2013-present)
• Tom Allingham, Save The Student's student money expert
• Vivienne Stern, Universities UK