Loans don’t cover rent, say half of all students
HALF of students across the UK claim that maintenance loans do not fully cover their accommodation costs. In London this figure leaps to 62.5 per cent.
This comes despite the additional maintenance loans received by London students.
These shocking figures were revealed in a survey by student review website Student Hut.
The cost of living has led to a significant number of students living at their family home during their time at university, with a quarter opting not to move out. When asked why, 90% reported ‘to save money’ as a key reason.
In London the average student pays £8,875 for their accommodation. This is over 80 per cent of the £11,002 maintenance loan allowed for students living away from home in London.This loan is also expected to cover food, travel and books.
The average person studying elsewhere in the UK pays £5,928.
In areas nearer to central universities such as KCL, UCL or LSE, average rent can be £200 or more a week.
Students in London were also particularly unhappy living in privately rented houses with 50 per cent reportedly being dissatisfied with their accommodation.
The average price of student accommodation in the UK has jumped by nearly a third in the past six years.
Research from student housing charity Unipol and the National Union of Students (NUS) found that this was being driven by an increasingly luxurious standard of accommodation.
NUS vice president of welfare Eva Crossan Jory, told the BBC, “The increasing cost of accommodation has created a real affordability problem for students. Rent continues to rise
above measures of inflation, but also in proportion to the already inadequate student loan package.”
She added that there was a “responsibility upon the government to consider not just the financial burden of these costs, but how they present a barrier to accessing education for those from disadvantaged backgrounds”.
The Accommodation Costs Survey 2018 found that half of student accommodation was provided by the private sector, up from 39 per cent in 2012. The rest are owned by universities.