Increasing Numbers Of Students Need Financial Help From Loved Ones | Debt Advice Foundation

Increasing Numbers Of Students Need Financial Help From Loved Ones

A recent Survey commisioned by the National Union of Students (NUS) and high street bank HSBC revealed that 60% of student rely on financial help from family and friends. The report has seen the figure increase 21 percentage points in twelve month from 39% last September. The report also revealed that students from wealthier families are three times more likely to receive financial aid from their family when compared to those from poorer households.

A recent Survey commisioned by the National Union of Students (NUS) and high street bank HSBC revealed that 60% of student rely on financial help from family and friends. The report has seen the figure increase 21 percentage points in twelve month from 39% last September. The report also revealed that students from wealthier families are three times more likely to receive financial aid from their family when compared to those from poorer households.

The news comes as a transformational review of the student finance system is to take place. Sally Hunt, the general secretary of lecturers’ trade union the University and College Union said “If you increase the cost of a degree, then people will think twice about whether or not to go to university and some simply will not be able to afford it at all. Politicians who are unable to recognise that expose themselves as massively out of touch with the real world and real people’s concerns.”

If you are a student and need assistance with your finances take a look at our student debt guide.

To read the full article click here.

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