‘Every Day I Think About Money’: How Can We Support Uni Students Who Struggle Financially?

A university place is often described as a “pathway to opportunity”. But for many students, getting in is only part of the challenge.

The other challenge is affording to stay. This is becoming more difficult as uni fees and costs-of-living increase.

In a new report, we look at the financial pressures facing Australian university students and what can be done to better support them.

We found one in three students surveyed reported they were struggling or severely struggling with their financial situation. This was more common among international students, Aboriginal and Torres Strait Islander students, students living with disability, and students living alone.

Our research

To understand what supports are available and what challenges today’s students face, we analysed 41 Australian universities’ policies on financial support for students. We then surveyed nearly 900 students and interviewed around 50 students and university staff. Students were recruited through university networks, student unions and social media.

Students reported growing pressure across core living costs. For example, 51% experienced food insecurity and 64% struggled with housing affordability. Almost 45% said financial stress had negatively affected their studies.

This mirrors other surveys showing students have been skipping meals to cope with costs of living.

Other recent surveys suggest financial pressure is shaping study decisions before students even arrive at university. Some young people are delaying study, planning to study part-time, or expecting to live at home to reduce costs.

What are students doing to cope?

The most common strategy among those we surveyed is paid work. In our survey, 74% of students said they relied on paid employment to cover living expenses. About 36% worked more than 20 hours per week.

While paid work can support independence and employability, working long hours can compete with study time, class attendance, assessments, placements and rest. One student described needing to “skip lectures or skip tutorials” because of work.

Students also reported borrowing money from family and friends, taking out loans, delaying medical or dental care, reducing their study load, dropping classes or delaying graduation.

One student told us:

Every day I think about money […] I find it hard to sleep.

Authors: 
Katherine Kent
Senior Lecturer in Nutrition and Dietetics, University of Wollongong
Kelly Lambert
Associate Professor Nutrition and Dietetics, University of Wollongong

- The Conversation

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