Undergraduates under growing financial pressure.

‘A’ level results have just been released and thousands of students will now be confirming their university places and going through clearing to secure courses for the coming academic year.

It’s a time of great hope and anticipation. I remember clearly the sense of excitement I felt when I got my results and how much I was looking forward to this next big step in life. But for many students today, the reality of life at University will be one of financial stress and hardship.

Recent research conducted in January and February this year by Russell Group Students’ Union, which surveyed 8,800 students across 14 Russell Group Universities, found that 3 in 10?students from the most socioeconomically disadvantaged backgrounds regularly go without food and other necessities because they can’t afford them.

The research also confirmed that financial pressures are affecting students' studies, with over?54%?of students reporting their academic performance has suffered because of the crisis and?18%?considering dropping out due to financial reasons

Of course, it’s all too easy to fall back on the cliché of students spending their time either lounging about or protesting, or both, but the survey highlighted that students are living on average just ￡2 per week over the destitution line in the UK.

Universities are doing their best to help students suffering from financial hardship. As well as providing subsidised food and extending access to campus facilities they are increasing their hardship funds and trying to target financial support at those students most in need – and to do it flexibly and cost-efficiently.

At Blackhawk Network we are already working with a number of universities to ensure that support gets to those most in need quickly and effectively. Our card and voucher schemes are cost-neutral to implement and reduce the administrative burden of disbursing funds for universities. Schemes can be set up in less than a week and vouchers delivered digitally or physically. Moreover, there is a clear audit trail as no cash is given and money can be directed specifically for its intended purpose, such as food or energy costs.

As someone who is working closely with Universities on these funding solutions I can see the benefit they deliver and how much support us both needed and appreciated.?At a time when the country is encouraging a knowledge based economy, it is vital for that students are not left behind during the cost of living crisis. We need to support students now more than ever, so that they can focus on learning the skills that will benefit us all in the long term.

Join the universities taking advantage of these simple and effective solutions by contacting me on 07485 376 178 or email me at?[email protected].

Source: russellgroupstudentsunions.org.