Survey shows students' money fears

GraduatesMany students are regularly worried about not having enough money to cover their living costs, a survey has shown.

Half of undergraduates aged 17 to 20, and two thirds of those aged 21 to 24 say they have concerns about paying their bills, according to a new report by the National Union of Students.
Overall, 48% of all full-time undergraduates said they regularly worried about covering basic costs, it found.

The study, by the NUS's financial support commission, looks at the costs facing students, and the support available to them. The findings show fears among students about finding work after graduation and the debt they will leave with.

Less than half of all full time undergraduates (44%) said they feel confident that they will find a good job, if they want one, after leaving university. And nearly three quarters (73%) said they were concerned about future levels of debt.

The survey also asked students about the type of financial support they would like to receive, and who it should come from.

Two thirds (66%) of those questioned said that if they were given £1,000 in support from their university, they would like it to come in the form of a cash bursary.

Some 13% said they would like a fee waiver (effectively a reduction in tuition fees) while 4% opted for a discount on services, and 17% wanted a combination of the other options.

NUS president Liam Burns said: "Students who struggle to meet basic living costs will also struggle to continue their education. We desperately need a radical rethink of the way that student financial support is organised."

The report comes just months before the new tuition fee regime comes into force. Under the new system, part of a major overhaul of higher education, universities will be able to charge students up to a maximum of £9,000 a year in tuition fees.

More stories

Read Full Story