Blessing Nkama
University students in England are left with little money after paying high rent prices for accommodation despite maintenance loans expected to cover it.
Recent data has shown students are left with the equivalent of 50p a week to live on after paying accommodation rent. This cost has increased by nearly 15% over two years, especially in London which has reported a 20% increase.
In 2019 it was found that 65% of students had to borrow money from parents, friends or bank loans to cover their rent.
This has been an ongoing problem for years as the cost-of-living crisis has forced students to look for part-time jobs to cover their living costs, and as a result miss out on the university experience. In 2019 it was found that 65% of students had to borrow money from parents, friends or bank loans to cover their rent. This amount hasn’t improved according to an ONS survey (2023) which reports more than 92% of students said the cost of living has increased compared to a year ago.
A first-year student at the University of Nottingham reported their accommodation rent for the next academic year is increasing by a staggering £29 if they decide to live there for second year. They said this jump from £161 to £190 was out of their budget and their maintenance loan would scarcely cover this.
Maintenance loans, which are offered by the government to help with living costs, have failed to keep in line with the rise of inflation. This has negatively impacted many students even those receiving the maximum loan as rent takes most of it. In London the maximum student loan granted is up to £13,022, however the London Evening Standard reports that student accommodation can cost 150 times the maximum maintenance loan.
Professor Steve West CBE, President of Universities UK and Vice-Chancellor of UWE Bristol, writes: “The student maintenance package in England is at its lowest value in seven years and students are also eligible for much lower maintenance loans than when the system was designed… It’s imperative that the maintenance support package is looked at more closely.”
The University of Nottingham offers the Student Hardship Fund and Student Crisis Fund to students who are struggling to make ends meet.
In response, universities have come together to offer financial aid to their students to relieve the pressure of the cost-of-living crisis. For example, the University of Nottingham offers the Student Hardship Fund and Student Crisis Fund to students who are struggling to make ends meet. To continue this financial support universities require extra government support as the 2.8% increase in maintenance support has failed to alleviate the issue.
A spokesperson for Universities UK, responding to The Guardian, said: “Universities will continue to support students, but we need the government to help address this. The 2.8% rise in maintenance support announced for students in England is inadequate and will not cover the real-terms cut to maintenance that students have experienced since inflation began to rise.”
Blessing Nkama
Featured image courtesy of Alice Pasqual via Unsplash. Image license found here. No changes were made to this image.
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