Parents failing to finance students at university?

Parents ‘fall short’ at supporting children through university.

One in every three university students feel that they do not receive enough financial support from their parents, statistics from a national survey have shown.

The National Student Money Survey, conducted by student advice website Save the Student, shows the average student in 2014 to spend £735 a month, whereas the typical maintenance loan covers only £458.

Almost a fifth of students admitted to relying on their parents for financial support, with one in six having a part time job. More than 60 percent of students who took part in the survey claimed that their diet had suffered due to a lack of money.

The survey also found that financial support offered by universities is only provided for 10 percent of students, despite more students needing funding thanks to the 2012 rise in tuition fees.

For many students, maintenance loans provided by the government are not enough to cover living expenses.

Miles Baker, a first-year Law and Business student, said: “The maintenance loan is barely enough for students, and people forget that a lot of us have responsibilities on top of studying which is why so many are forced to get jobs which can impact on their studying.

“I rely on my parents on top of my maintenance loan, and as a young adult you don’t want to really be doing that but there isn’t much choice.”

Solomon Bamidele, a first-year Engineering student, commented: “As students we can never really afford to live the life we want to. Some have enough and some don’t, but thankfully I’m comfortable for now.”

Kiki Nartey, a first-year German and Politics undergraduate, told the Boar: “There is this wild assumption that those who do not come from low income families have ample savings, which they can rely on to fund their university living costs.

“Whilst low-income families deservedly receive grants and bursaries to support their lifestyle, why must it be assumed that families who earn more are casually able fork out large sums of money to fund their children’s student life?”

The Warwick Undergraduate National Scholarships and Bursaries programme offers non-repayable support to students to help with course-related costs. Bursaries of up to £3,000 are offered, dependent on household income.

Jake Butler, editor of Save the Student, commented: “The government must increase the maintenance loan amounts to cover basic living costs.

“It’s a thorny issue of how much parents should contribute to the shortfall, and it entirely depends on individual circumstances. Ultimately I don’t believe parents should have the expectation put upon them.

“However with hearing daily horror stories of students living on the breadline, I feel it’s still important that parents are made more aware of the situation their child at university may be in.”

For more information on the survey, visit http://www.savethestudent.org/money.