With the ever-increasing necessity of the latter being indicative of just how severe the current situation is, students need dramatic action from the government, as the situation is only likely to worsen in the coming months. NUSU estimates that one third of students are left with less than £50 per month after rent and bills, and 68% are unable to pay for their course materials, meaning that the Cost of Living Crisis is on a rapid path to becoming a Cost of Learning Crisis for many.
This pressure of being unable to pay bills is tainting the ability for students to enjoy studying and take advantage of student life.
The Students' Union is further trying to counteract this through lobbying the University to seek out additional allocated funding for student hardship as well as the Government with the NUS Cost of Living Campaign and lobbying local MPs for increased Maintenace loans.
Whilst this rapid action from the Students' Union will hopefully be able to remove daily living pressures from those students who are most in need, the vital necessity of this action is truly tragic. Indicative of the government's consistent neglect of students and a lack of investment in those who will be the future of the nation. Students are poorer than ever in real terms, with the 2022/2023 maintenance loan only being increased at a rate of 2.3%. An amount lower than the Consumer Price Index rate of 8% as well as predicted levels of inflation which are expected to rise to 18% in January 2023. According to the Institute for Fiscal Studies for the first time since 2003, a student who receives the maximum maintenance loan amount will be falling more than £1,000 short of what a 22-year-old student would earn if they worked full time receiving the National Minimum Wage instead of studying.
Gradual increases in inflation paired with the government's own ineptitude will unfortunately result in current commitments as established by the Students' Union growing, all the while a great provision for those in need continue to become insignificant.