Working to fund your student lifestyle? You are not alone. 77% of students in the UK now work part-time according to a study by Endsleigh Insurance and the National Union of Students. Only 59% of students worked part-time last year, showing a dramatic rise in numbers since.
Higher rent prices is one of the main reasons why more students are choosing to work part time. Drastic reports have appeared of students paying up to £300 a week for a room. With student loans nowhere near covering the full cost of university, working part-time has now become necessary for a lot of students to continue their studies.
The increase in living costs is also a massive problem. Average annual living costs for a student outside of London are £12,160 according to the < https://www.bbc.com/news/education-33843987″> National Union of Students. Student can get loans of up to £5,555 to cover the cost of living outside London, but clearly this is not enough.
Even though more students are working part-time, dependence on financial support from parents has not decreased. 53% of students said they depend on parental support to cover uni costs. Students are also relying on loans to get through college. 74% said they rely on a loan which is up from 67% last year.
14% of respondents to the survey said they work full-time during term time. This can result in students suffering extreme exhaustion. It can also have a massive impact on their studies which they are working to pay for in the first place. If you are one of the many students working to fund uni, make sure to maintain a good life balance to make the most of both uni and your job.