14.6 C
New York
Sunday, October 6, 2024

How much university rent differs across the country

Students are facing a postcode lottery over how much universities charge for rooms in halls of residence – with data showing some pay as much as 125 per cent more than others.

The combination of rising rents and insufficient maintenance loans are leaving university students in England with very little left to spend on bills, food and other essentials.

How much students have to pay on their accommodation depends on where they head to university with a large disparity in the prices charged by the UK’s top 25 ranked universities.

The lowest weekly rates being offered in halls of residence – which are typically reserved for first-year students – varied by as much as 125 per cent across these universities, according to analysis of the Complete University Guide for the upcoming academic year by financial institution Responsible Life.

Just seven of the universities have rooms in their halls “starting from” under £100 per week for the new academic year.

The University of Surrey offers the most affordable option for first years, with shared rooms starting from £79 per week. Six other universities, including Edinburgh, Warwick, Birmingham, and York, also advertise rooms for under £100 per week.

Meanwhile, seven of the top 25 establishments are offering rooms starting from more than £150 a week.

Durham University charges £175 per week – more than double Surrey’s rates. In London, Imperial College offers the best value, with rooms starting from £136 per week.

Comparing weekly rates in Oxbridge universities, Cambridge has cheaper rates than Oxford with room rents from £146 versus £173.

Rates are likely to vary even more across the rest of the universities in the UK.

Carlton Hood, chief executive at Responsible Life, said the expense of higher education in the UK has reached “unprecedented levels” leaving many students burdened with significant debts upon graduation.

He added: “Accommodation, in addition to tuition fees, often constitutes the largest financial obligation for students during their university years.

“Taking out a maintenance loan to cover rental costs, on top of paying tuition fees, graduates face leaving university with debts that will take years to pay off, if ever.”

The average student’s rent costs £550 per month, Save the Student’s latest accommodation survey found.

But for many students, their maintenance loan – which are taken out by students, in addition to loans for tuition fees, to cover their living costs while they study – doesn’t cover this.

In the survey, 64 per cent of those who pay rent said they struggled with the costs at least some of the time, including 20 per cent who described it as a constant struggle.

Some 61 per cent are having to borrow money from parents, banks and friends to help pay the rent.

Save the Student said a major issue is that maintenance loans, especially for students from England, haven’t been keeping up with inflation over recent years. The student money website is calling on the Government to change this.

However, this week, Universities UK (UUK) said higher tuition fees and direct government funding are needed to halt a growing deficit in England.

A fee rise linked to inflation and more government investment would ensure the sector “does not slide into decline”, according to proposals from UUK.

The Department for Education (DfE) says it will create a “secure future for our world-leading universities”.

Tuition fees for home students have been capped at £9,250 in England since 2017.

Tom Allingham, Save the Student’s communications director, said: “In England in particular, the maintenance loan has lagged behind inflation to such an extent that on average, it now falls short of living costs by £504 per month.

“Students are having to cut back on even the most basic necessities to make ends meet, with 67 per cent skipping meals at least some of the time.

“Just as students need their universities to stay afloat, universities need their students to have the money to attend.”

Save the Student is calling on the government to fulfil its manifesto promises to “deliver for students” by increasing maintenance loans to catch up with inflation, and “end the financial peril faced by those at university”.

Source link

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

0FansLike
0FollowersFollow
0SubscribersSubscribe

Latest Articles