This week is National Student Money Week- a time to focus on budgeting skills, financial wellbeing, and hot deals. But in 2024, it has a different tone. The ‘Cost of Living Crisis’ is pushing students to the brink, and with little support from the Government, there needs to be big systemic changes if universities expect students to stay quiet about this struggle.
Before Christmas, SU Vice President Phil, wrote a blog highlighting the increasing desperation of students; more and more students’ unions are opening food banks, and more students than ever are having to balance part-time jobs just to survive. The Government recently announced that maintenance loans are going to rise by 2.5% next academic year, but with inflation at 4%, this means students will be facing a real-terms cut in living support.
So what can be done? At Falmouth and Exeter, there are short-term fixes for when students are struggling; university hardship funds, the SU pantry- but this doesn’t fix the problem. But how can you be expected to study when you’re worrying about where your next meal will come from?
The National Union of Students (NUS) are embarking on a nationwide campaign to improve the provisions for students. You can support this by signing the petition demanding reform to the student funding system. This is part of their Manifesto for the Future, which sets out how a new government can end the student living crises in their first 100 days. Phil emailed Cherilyn Mackrory (the MP for Truro & Falmouth), asking whether she’d be supporting students in the next General Election. She reassured Phil of the coming increase in maintenance loan (in reality, a decrease), and the boosted mental health funding for the NHS. But how can we trust that when students have been failed for so long?
Keep an eye out for more from the SU on money throughout the week. Remember you can book a budgeting appointment with the SU, and come for free vegan soup on Friday afternoon in the SU!?
- SU Sabbatical Officers 23/24