Money Worries Disrupt Studies and Cause Drop-Outs

A new study by the NUS has shown that over half of students find it hard to concentrate because of financial pressures. About three-quarters of those surveyed regularly “worry about not having enough money to meet basic living expenses.”

‘The Pound in Your Pocket’ report, published in December, surveyed over 14,000 students and the results make worrying reading: over one third of students are forced to take up paid work during term time and the holidays, and around half depend on financial support from their families.

A Durham student, who wished to remain anonymous, said: “My student loan isn’t enough to cover living in college accommodation and basic living expenses, so I’m forced to spend study time trying to make up the shortfall.”

Around 40% of students have at some point considered leaving their course and for half of these the reason given is “financial difficulties”.

It is surprising that at a time when the over 60’s get free bus passes, regardless of wealth, one of the largest student financial concerns is transport costs. These have most impact on Further Education and NHS undergraduates, where for both groups 80% have significant travel costs.

NUS National President, Liam Burns, said: “students are struggling to make ends meet, concentrate and stay on the course, because financial support is systematically inadequate.”

At Durham, however, only 2% of students fail to complete their courses, but this is surely set to change unless reforms in student finance are brought about.