New survey finds 33% of students under serious financial strain

New research has found that one third of students are experiencing ‘serious financial problems’.

According to a survey carried out by the Higher Education Authority (HEA) and published in the Eurostudent report, approximately 33% of the total student population say that they are experiencing 'serious (or very serious) financial problems'.

Around 21,000 students’ responses on questions based on their education, social, financial and living conditions were recorded in the report.

In 2019, 26% of students admitted to having ‘serious financial difficulties’ compared to the new report indicating 33%.

The study found that accommodation was the largest single expenditure for students, which accounts for 35% of all expenditure. 

The average spend on accommodation was €469, up from €415 in the 2019 Eurostudent report.

Full-time students were more likely to live with their parents or in student accommodation, whereas part-time students are more likely to live with their partners in private accommodation.

In terms of working during the academic year, approximately 69% of full-time students worked during a lecture-free period, suggesting these students tend to work outside of term time in order to focus on their studies.

 89% of part-time students were working during a lecture-free period, which suggests that part-time students balance work and study together by alternating their time.

Students that do not have jobs spend 21 hours on average per week on personal studies, compared to employed students who spend 17 hours on personal study.

The report also found that the Covid-19 pandemic had a mostly negative affect on students as 59% of them reported it had a negative impact on their motivation to study.

58% of students said their mental health was impacted as a result, with female students more likely to share this information.