UCAS launches new budget calculator amid cost-of-living concerns

UCAS has launched an interactive budget calculator to help prospective students estimate the cost of living at more than 100 UK towns and cities.

The tool is available through students’ UCAS Hub accounts, and allows applicants to build a personalised monthly budget by comparing average costs for accommodation, food, transport, bills and other everyday spending.

UCAS has said the estimates are based on anonymised student spending information supplied by the platform Blackbullion, alongside accommodation data from StudentCrowd.

The launch has come amid rising concerns over the cost of living and its impact on university students. With varying costs from different locations in the UK, the calculator creates a picture of the likely monthly costs before students accept a university offer.

The calculator has been welcomed by current students such as Aisha Khan, a 19-year-old urban planning, design and management student from London, who said it could be particularly valuable for applicants from lower-income backgrounds.

She said: “When you’re from a low-income family like mine, and you see everything going up in price, it’s very scary.”

She added: “Having a tangible tool like this will allow a lot more young people to make smarter financial decisions.”

UCAS research has found that while most applicants understand the student loan system, fewer than one in three feel informed about how much money they will need to support themselves at university.

Every student should be able to choose where and what they study with confidence, knowing the monthly costs are realistic for them

Jo Saxton, chief executive of UCAS

Jo Saxton, chief executive of UCAS, said: “Every student should be able to choose where and what they study with confidence, knowing the monthly costs are realistic for them.”

She added: “This tool will help applicants understand what they’re likely to spend and plan their finances before they make those decisions.”