NUS study reveals that three in four students are concerned about their financial situations post-Covid as a number turn to foodbanks for help.
A study by NUS revealed a number of students are needing to rely on food banks as 75% remain concerned about their future finances.
60% of students continue to feel the impact of Covid-19 upon their income, an NUS study found. Many have lost their jobs, whilst 20% are working on reduced hours and 10% have been furloughed.
The survey was carried out in November 2020, with over 4,000 student participants. Two in five students have had to seek financial help from their families, and a third have had to turn to their savings. A significant number have used credit cards to help their finances, and 9% of students have used food banks. Hardship funds offered by universities were accessed by 8% of survey participants.
Whilst families can support students in a number of cases, 50% of students state that the incomes of those who have supported them have also been adversely affected by Covid-19.
A huge 73% of students remain anxious about managing their finances during the pandemic, and three in four are “concerned” about how their finances will look after the Covid-19 era comes to a close.
The National President of the NUS, Larissa Kennedy, commented on the NUS website: “It is astonishing that three in five students have been affected financially by the pandemic yet it has taken until now for the government to offer any meaningful support. Students deserve better than having to rely on foodbanks for their next meal.”
