74% of students feel ignored by the government following the latest announcement

Following Rishi Sunak’s announcement, one of the main changes highlighted is that all UK households will now receive a £400 grant to reduce energy bills over the year, which will no longer have to be paid back. 

It has further been announced that people on benefits will receive £650 (instead of £400), which includes households who receive Universal Credit, tax credits, pension credit, and any other means-tested benefits. Those on disability benefits will receive £150 in September, which may be on top of the £650 payment.

But what about the students? 

Whilst this announcement is a positive step in the right direction, students have been left out of the conversation yet again despite the increasing need for help from the government, comments Jessica Pinkett, Head of Youth Insights at Student Beans.

“Our research shows that over half of students (52%) are wanting better access to financial support as a result of the increase in the cost of living. However, they are continuously feeling let down following such announcements, with a shocking 74% feeling as though they are being ignored by the government in the current climate.

Students could quietly be some of the hardest hit by the increases in the cost of living, and our biggest concern with this announcement is that it may put potential future students off the idea of entering higher education, especially as the rising cost of living is already the biggest fear for fifths (39%) of those hoping to go to university in the future.

We believe more needs to be done to protect current and future students from these uncontrollable economic changes, that are predicted to worsen, in addition to those the government has already identified as needing help.”

With a fifth of young Brits revealing they wish they’d had more education on how to manage their finances, Student Beans has curated advice for students who are worried about money whilst at University.