One in four students at risk of dropping out of university due to soaring costs
A quarter of hard-up students (24%) are at risk of dropping out of university due to cost of living pressures.
Since the start of the autumn term, nearly two thirds (63%) of university-goers have spent less on food and essentials, according to a survey by the Sutton Trust.
More than a quarter (28%) of students said they have skipped meals to save on food costs. Working class students were hardest hit, with 33% missing meals compared to 24% of their middle class peers.
Nearly half (47%) cut down on socialising, while 43% used less electricity or gas at home, while 6% reported moving back in with their family to save money on rent or bills.
Nearly a fifth (18%) say they avoided buying vital supplies like laptops and textbooks.
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Chairman Sir Peter Lampl said: “It is scandalous that students are skipping meals and having to cut back on essentials, and that a staggering quarter of students say they are now less likely to finish their degree as a result of the crisis.
Students are skipping meals or going without supplies for studying due to cost of living pressures (Getty Images/iStockphoto)“To make sure that students can afford to fully take part in their course and wider university life, the Sutton Trust is calling for the government to urgently review the amount of funding and support available to students."
It comes as poorer students face losing out on £1,500-a-year in financial support under a below-inflation hike to maintenance loans.
The Department for Education (DfE) announced earlier this month that tuition fees for degrees in England will be frozen at a maximum level of £9,250 for the next two years and maximum student loans for living costs will rise by measly 2.8% in 2023/24.
Shadow Higher Education minister Matt Western said: "This cost-of-living crisis made in Downing Street is squeezing student budgets like never before, threatening students' ability to complete their courses and achieve their ambitions.
"The scale of the crisis has been building for months after the Conservatives crashed the economy, yet ministers have failed to take the action necessary to support students."
A Universities UK spokesperson said: “Throughout this cost-of-living crisis, our members have stepped up to provide support to students, from daily meal deals to increasing hardship funding, universities are working hard to offer much needed help to students.
"Yet the student maintenance package in England is at its lowest value in seven years, and the government’s planned uplift for next year does not go far enough to make up for the real terms cut to maintenance that students have experienced since inflation began to rapidly increase.
"These are difficult times for students, especially those from low-income backgrounds, with caring responsibilities or estranged from families, and we need to look more closely at how well the current system is supporting students and what changes need to be made."
A Department for Education Spokesperson said: “We recognise students continue to face financial challenges, which is why we are increasing loans and grants for living and other costs for a further year.
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“To support universities to top up their own hardship funds we are also making an additional £15 million available. This will bring the total available to universities to draw on in supporting their students in hardship to £276 million this academic year.
“We are pleased so many universities are already stepping up efforts to support their students through a variety of programmes. These schemes have already helped students up and down the country and we urge any student who is worried about their circumstances to speak to their university.
“We have also introduced new avenues for young people to get qualifications, including degree apprenticeships, which enable students to earn as they learn whilst gaining the skills and workplace experience for a rewarding career.”
:: The survey, of 1,050 current undergraduate students across the UK was carried out by Savanta between January 13 and 17
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