Student Cost of Living Crisis - How to Bite Back

With rising inflation, the prices of everything from bread to rent are going up. In fact, in a recent, Russell Group universities' Cost-of-Living Survey, it was discovered that 1 in 4 students are regularly going without food and other necessities. While many are living on £50 per month after expenses, this crisis is impacting those who already come from disadvantaged backgrounds even more. But you don’t have to despair. There are ways to bite back against the student cost of living crisis and we’ll detail some of them today.

Manage your finances

While money is tight, you’ll want to have a good handle on your budgeting. Make a list of your bills and then allocate what you have left over to things like entertainment and socialising so you don’t isolate yourself. We have more advice on how to budget here. You can also sign up for student discount cards, get a bank account with perks like a free rail pass and ask at every place you shop and dine if they give money off for students.

Look after your mental health

First, it’s important to say that money worries can impact your mental health. So, if you’re stressed about bills, transportation costs and your future prospects because of this slump, know that you’re not alone. A lot of students will feel exactly like you do and it can be helpful to talk it out. Even just chatting about your worries over a meal can go a long way to relieving stress and forming stronger relationships.

If you’re really feeling the strain, you can see your GP about a referral for talking therapy or just visit the Life Lounge on campus to take advantage of Bolton University’s mental health support services like counselling and more. Overall, we want to make sure that this financial crunch doesn’t impact your academic performance or future career goals. So, please do seek help if you’re feeling overwhelmed.

If things get tough, please come and talk to us. We’re at the Student Centre on Tuesday and Thursday from 10 am to 12 pm every week. There are a number of funds and bursaries that could be available to you and if you’re struggling we’ll do our very best to help and support you. We know financial support is nearly as important to you as our amazing courses when delivering #UniAsItShouldBe, so we’ll always be available to lend a hand where we can.

Get Political

A lot of the stress on students is due to the marginal increases that were given by the government on student loans. Without at least a 14% increase in loan value, today’s student loans were never going to account for inflation. So, it’s important that you get out and vote for local MPs that you believe will represent your interests. You can also write to your MP and tell them directly how much the policy of not tying student loans to inflation is impacting your studies.

Feeling like you need to do something more active? Why not march for change? Protests and political rallies are a hallmark of the university experience and they’ve had a huge impact on policy over the years. It’s one of the few ways that long-term change takes root.

Not yet a student but considering the University of Bolton for your studies? Here’s more information about Clearing 2023 and how Bolton offers an incredible, supportive and nurturing learning environment, even during a cost-of-living crisis.