University Students in England Face Financial Pressures, Struggling to Meet Living Costs

Strategic Insights -

University students in England face significant financial pressures, with a new report suggesting that they must undertake more than 20 hours of paid work per week to meet the basic standard of living. The report, published by the Higher Education Policy Institute (Hepi), highlights the need for increased maintenance support to ensure that all students can reach a "minimum socially acceptable standard of living." The report estimates that a student in England will need around £61,000 over the course of a three-year degree, or around £77,000 if studying in London, to meet this standard, excluding tuition fees.

Key Takeaways:

  • University students in England must work more than 20 hours per week to meet a basic standard of living, according to a report by the Higher Education Policy Institute (Hepi).
  • The report estimates that a student in England will need around £61,000 over a three-year degree, or £77,000 if studying in London, to reach a minimum socially acceptable standard of living, excluding tuition fees.
  • The maximum annual maintenance loan (£10,544) available to students in England covers only half of the costs faced by first-year students, the report states.
  • Even with the highest levels of maintenance support, students in England must work more than 20 hours per week to meet a basic standard of living.
  • Education Secretary Bridget Phillipson has acknowledged that the government recognizes the disparities facing young people and is "looking at all of the options" to support university students.
  • Hepi has called for maintenance support to be increased and "pegged to inflation," and for household income thresholds to be increased to reduce parental contributions.
  • Universities UK has echoed Hepi's concerns, stating that the maintenance package is insufficient and advocating for increased support to enable students from all backgrounds to succeed in higher education.

Statistics:

  • £21,333: the estimated weekly maintenance cost for students in England, covering the basics and full participation in university life (Hepi, TechnologyOne, and CRSP, 2023)
  • £61,000: the estimated total cost of a three-year degree in England, excluding tuition fees (Hepi, TechnologyOne, and CRSP, 2023)
  • £77,000: the estimated total cost of a three-year degree in London, excluding tuition fees (Hepi, TechnologyOne, and CRSP, 2023)
  • £10,544: the maximum annual maintenance loan available to students in England (DfE, 2022)
  • 20 hours per week: the minimum hours of paid work required by students in England to meet a basic standard of living (Hepi, TechnologyOne, and CRSP, 2023)

Sources:

  • Hepi, TechnologyOne, and CRSP (2023) - "The cost of university: how much does a student need to live on?"
  • DfE (2022) - "Student finance for higher education in England: 2022 to 2023"
  • Universities UK - " Universities welcome new funding for student support"
  • PA Wire - "University students must work 20 hours a week to meet living costs -- report"