As the COVID-19 tracker project continues, this week, we found that students are becoming increasingly concerned about their finances. Affected by job losses and the knock-on effects of reduced parental support, students are under increasing financial pressure due to the ongoing COVID-19 crisis.
We asked our panel how they are feeling about their finances, accommodation, mental health and more now that lockdown has been underway for over two weeks. For the full findings, you can upgrade to our weekly COVID-tracker subscription, but here’s an insight into how students are feeling about money during week two of the project. This research ran from 30 March - 5 April 2020.
How do students feel about their finances?
1. Three in four students are calling for universities to refund their tuition fees due to ongoing university closures.
"Due to the lockdown and strikes, I’ve only had three month's tuition since I started my course, why should I pay £9k for that?" - Student Hut Opinion Panel
2. 74% of students are still being charged rent despite the majority no longer being able to live in their university halls or student accommodation. Some are refusing to pay, and many others are asking for refunds.
“I would like more support for students who are being forced to pay rent (particularly those in halls), who have had to drop everything and leave. Many of us have lost our jobs and cannot afford to keep paying rent.” - Student Hut Opinion Panel
Now’s the chance for institutions to support students in any way they can to help relieve those financial anxieties. Whether it’s by offering continued education through online modules, sharing information on how to deal with housing issues, or passing on money-saving offers from the likes of Perlego who give access to hundreds of thousands of free textbooks.
What we do know is that to help, you must first understand how students are feeling, and with the Opinion Panel, students can open up and reveal their true worries and anxieties, which can then be passed to you. Sign up for the full report here, which will offer even more insight into what your student audience is truly thinking so that your marketing and communications stay up-to-date, informed and relevant.
