On first hearing, the cost-of-living crisis brings to mind households in which parents can’t afford to provide food nor warmth for their children; missing from the conversation and at risk of becoming the forgotten demographic, the consequences of this crisis for university students cannot be overlooked. Affordability for students has been a lasting topic of controversy after the UK’s move away from maintenance grants and rise in tuition fees. Hence, now student loans and grants are not rising to match inflation, students make up some of those who are being hit the hardest by the cost-of-living crisis.
The National Union of Students recently reported that 96 per cent of students have been forced to limit their spending as a result of inflation. Worse yet, in the National Student Money Survey one in ten students claim to have turned to food banks in order to keep up with the cost of living. Given the evidence that a large number of students are struggling to cover the cost of necessities such as food, bills and rent, it is apparent that the Student Finance system is massively flawed.
Correspondingly, there has been increasing concern over whether people are less likely to apply for university. Considering a number of students rely on the maximum student finance loan in order to go to university, their aspirations are jeopardised by the fact loans are not increasing to meet soaring living costs. Furthermore, some students might even be forced to drop out or at least defer their place at university until something changes within the Student Finance system. In fact, there has shown to have been a 23 per cent rise in the amount of students that dropped out of university in 2022 compared to 2021 in the figures published by the Student Loans Company.
In light of these figures, it is vital that universities are providing as much support as possible for students who are finding themselves seriously effected by new economic pressures, in order to sustain their enrolment.
So, what is the University of Nottingham doing?
The university is offering both welfare support and financial support, such as its Student Hardship Fund, which has doubled by fifty per cent, and which students can apply for as a means to stretch their budget. In addition, the university is providing students with free access to kitchen utilities, shower facilities, period products, and heated study spaces. Whilst making the decision to study on campus can contribute to the reduction of electricity bills at home, the Oasis Breakfast Club also provides another justification for making this journey. From Monday to Friday between 8-10am, the university is providing a free breakfast in A29 Portland Building, where staff will also be available to discuss anything else students are struggling with.
However, for many students all over the country support from just their university simply won’t be enough. We are in a position where the least privileged students are being forced to make a choice between eating or sustaining an education for themselves. Considering that the student demographic is made up of those who will one day be governing the country, for the government to put more money into higher education is to put more money into the future.