66% of students in higher education are considering quitting university due to the cost-of-living, according to a recent report.

The National Student Accommodation Survey asked students how the cost-of-living crisis had affected them, with the results highlighting the financial strain across all aspects of university life. Housing is one of the major financial worries for students, with the amount of students living in Halls falling by 12% in the previous year whilst the number of those deciding to live at home has risen by 6%. Furthermore, one in two students expressed concern over the housing shortages in the country.

Whilst housing remains a major problem for students, the survey did consider other issues. Many of those surveyed said that higher living costs have forced them to impose severe restrictions on their lifestyles in order to save costs. More than half of those surveyed said that they had limited the time they spend socialising as a way of cutting back on expenses. Others have taken up part-time work to support themselves whilst attending university. This has had negative academic implications however, since such commitments limit the time that can be dedicated to studies. 

Students also reported reducing their food intake to save money. Not only has this produced health-related problems of malnourishment, but it has affected their ability to concentrate during classes. The survey confirms that for many students, socialisation and studying have been marred by burgeoning student costs.  

Financial concerns have been compounded by regional disparities that have exposed cities like Birmingham to higher costs than other areas of the country. Moneyzine have shown that the West Midlands has the third highest student rent cost in the country at an average of £534 per month, only behind London and Yorkshire. Additionally, Utility costs are more expensive in Birmingham than other major UK cities including Bristol, York, and Glasgow. 

Whilst location has distorted the impact of the cost-of-living crisis, another recent study by the Russell Group Students’ Unions has shown that social factors disproportionately affect certain students. 

54% of all students claimed that their academic results had suffered due to the cost-of-living, yet this figure was 71% for students whose parents did not possess educational qualifications. Participants were also asked whether the crisis had forced them to stop taking part in extra-curricular activities. 70% of those from low-income household said that it had, compared with only 37% of students from households of £75,000 and above. 

The Union’s findings raise concerns that inequality between different social backgrounds will be exacerbated through growing costs across student life. Dani Bradford, who led the research, claims that the policies employed in higher education creates an environment, ‘where our university system is only open to the most privileged.’

Bradford is not the only figure claiming that students’ interests are being neglected under current arrangements. Steve West, President of Universities UK, states: ‘Students risk becoming the forgotten group in the cost-of-living crisis.’ Elsewhere in his statement, West proposes greater governmental cooperation as a solution to higher student expenses.

Despite this, confidence in the government’s current handling of the crisis is low, with critics claiming that more could be done to mitigate the burden of costs felt by students. Successive administrations have failed to meet housing targets which has contributed to a 4.3 million deficit in home availability that has deepened the housing crisis and limited affordable options for students. In addition, the loan scheme system has come under scrutiny for not matching inflation rates, with the Russell Group estimating that students could miss out on £1500 per year. 

In response, Government sources claim that they have bolstered student support schemes by “an additional £15m” to combat financial difficulties experienced by students. 

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