UK students are feeling the pinch
Government funding in many cases (though not all) will cover your Undergraduate tuition fees. And that’s great, but what happens if it’s simply not enough?
We’ve heard it all when it comes to funding education. Getting access to finance, trying to understand all of the financial options available and figuring out just how much will be needed for cost of living is just skimming the surface when it comes to student financial pressures.
So what’s the real issue?
The reality for many students across the UK is that government funding does not come close to covering all of the costs of getting an education, especially if you are an international student, can’t secure a maintenance loan or want to do a Postgraduate course. We know because we deal with students every day.
But we wanted proof. That’s why we teamed up with some pretty awesome data experts over in YouGov to ask students what’s really on their minds when it comes to finance.
What students need
Not surprisingly, 1 in 2 of our student respondents said they felt they could use more support when it came to covering tuition and cost of living. A further 3 out of 10 said they could do with some more advice on money management and all of the financing options available to them.
While tuition is the first thing that often comes to mind when planning to head off to uni, it’s the day-to-day maintenance costs that students really struggle with while studying. And pairing all of this with the rising costs of living in major cities (especially London), it’s no surprise that students are feeling the pressure when it comes to their finances.
Finance options for students
There are several further options to help fund your time as a student but part of the problem, as outlined by the responses to our survey, is that there is a lack of accessible information around all of the financial options available whether you’re looking to get a part-time job, a bank overdraft, a grant or a private student loan.
We’re looking to change that. Follow us on social media below or bookmark Student Money exciting upcoming content all around the best financing options and support for students (straight from the mouths of students and student experts).