Are the costs of accommodation granting you a fail in the near future?
Across the UK, students are finding themselves being “set up to fail” because of the sheer expense of accommodation costs. Along with this, a charity also warned that some levels of accommodation are that expensive they barely leave a student £40 per week to live on.
Based on a survey conducted by 150 universities, the Money Charity stated that many students found themselves being forced into work just so that they can afford housing as well as living in general whilst going to university to gain an education.
Because of these negatives it has encouraged the Government to set up an official body in order to make sure that the allowance distributed to students is more than “enough to live on”. According to officials, British students are facing what could be a “cost of living crisis”.
According to the above charity, university halls that are provided are not exactly cheap and include the most basic living requirements for example, for a hall outside of London it would cost someone around £420 a month and for anyone wanting to live inside the capital it would cost around £554 per month.
The charity also explained that rooms which boast a higher expenditure were given to students, which are way above the basic rate and further warned that students should choose their university and courses based upon location and accessibility as opposed to going by the quality of the halls.
In some universities it is reported that the cheapest rooms took up two thirds of the maximum support that had been available, not to mention parents that are currently on minimum support, who are expected to pay towards their child’s living arrangements. Student loans companies along with the Government should clearly explain to parents as early as possible just how much they are expected to contribute towards their child’s education costs thus allowing planning prior to them starting university.
Prior to starting university, research should take place in order to compare the costs of living in certain places to make sure that the amount distributed towards loans and grants were set appropriately. University accommodation along with student finance should be paid each month in opposition to only paying three times a year even though this is the most known strategy around today.
If students are made to pay their way monthly it would make the post university life much easier to handle with regards to paying rent and any other necessary bills. Chief executive of the Money Charity, Michelle Highman mentioned that students who originate from a lower than average income background would more than likely have to work or rely on credit just so they could live efficiently.
Students who find themselves stuck in this kind of situation will have to try and bear with the financial pressures of student life to begin with or worst of all possibly make the decision of dropping out of education because it is simply just too much to deal with. A spokesman from the National Union of Students mentioned that current loans and grants were failing to keep pace with “spiralling bills for basic essentials”.
For many students who do not have the option of turning to what can be known as the “bank of mum and dad”, they may find themselves being driven to work full time as well as studying wherever a suitable job can be found. However, the above is not the only solution, more than often most students find that they are in such a mess, the only way they assume that they can resolve it for a short period of time is turning to payday lenders.
To meet current student expectations, newly refurbished accommodation has been underway according to a spokeswoman from the organisation, Universities UK. She then added;
“It is very important that a student's lack of access to funds at the start of their course does not present a barrier to entering higher education, and that students can meet their costs of living”.
At present it is stated that a specially designed panel are currently analysing the design of future student fees along with loans and the results of this would be completed in spring 2015. Do you think that the Government should make it easier for people to afford to live and study?
Nicole Cran, Pali Ltd
- Family forced to turn their home into a shed after losing appeal!
- Invitation to Conveyancing Webinar on Commercial Reports
- First ever digital mortgage deed accepted by the Land Registry!
- Invitation for webinar on Agricultural Risks in Property Transaction
- Pali Backed Charity Event Surpasses Target
Subscribe to receive a weekly update of our blog posts