Helping our students navigate the rising cost of living
As the economic landscape grows increasingly challenging, research reveals the toll it’s taking on students here on campus. We connected with those currently benefiting from financial support to learn how the generosity of our alumni and supporter community is empowering Newcastle’s next generation.
31 October 2024
As the cost of living continues to rise, students across the nation are facing increasing financial pressures that can hinder their academic success and overall well-being. Some of the challenges facing students today:
- Student loans are no longer enough to cover living costs for 75% of our students (NUS, 2024)
- 65% of students have cut back spending on food and other essentials because of the rising cost of living (ONS, 2023)
- 75% of students have said their housing costs are up from last year and paying rent is their biggest worry (NUS, 2024)
These financial pressures not only impact academic performance but also limit students' ability to participate in extracurricular activities. These activities are essential for developing social skills, building a sense of community, and finding balance in university life. They offer a much-needed respite from the stresses of study and provide opportunities for personal and professional growth.
Jasmine, MA Media, Society and Cultural Studies student (pictured), said:
"Being a student today is an increasingly expensive undertaking. Student loans barely cover basic living costs, rent is at an all-time high, and students are working more hours in part-time jobs to make ends meet. This hits hard, especially for students like me who have nowhere else to turn for support. Donations from the alumni community have been extremely important to me. As I am from a low-income household, the only way I was able to come to university and fully take part in student life was due to the financial support I was lucky enough to receive."
At Newcastle University, we are committed to ensuring every student has the chance to succeed and thrive, regardless of their background. We are proud that 32% of our new intake of home students in the last academic year were from socioeconomically challenged backgrounds, our highest percentage ever and greater than any other university in the UK. As an institution that strives to make a genuine difference to our students, this is something we’re exceptionally pleased about.
Kosiantyn, Biomedical Sciences student (pictured), said:
"Leaving Ukraine at the start of the Russian invasion was very challenging for me and my family. We moved to the UK as refugees, and only thanks to all the help from donors to the Student Fund did it become possible for me to enter higher education here. I promise that your generosity will not be in vain, as I will make every effort to honestly fulfil my duty to the society that has never let me down."
This winter, we want to make a difference to students who are struggling by alleviating some of their financial pressures including rent, grocery bills, and transportations costs. We are hoping to remove their barriers to learning so they can engage in student life fully and achieve without being under constant financial strain.
The Newcastle University Development Trust has pledged £50,000 to match donations made to the Newcastle University Student Fund. All donations made before the 31 December 2024 will be doubled, meaning that for every £1 donated, £2 will go to help a Newcastle University student in need.
Hilary Parker, Chair of Trustees, Newcastle University Development Trust, said:
“We are delighted to offer money from the Newcastle University Development Trust that will match your donation pound for pound meaning your donation today will have twice the impact and support even more students when they need it most. This is at no extra cost to you. Together, we will give that vital support to deserving Newcastle University students like Jasmine, Kostiantyn, and Emma when they need it most. Thank you for your generosity.”
How our alumni and donors are supporting students right now
Thanks to the generosity of our existing donor community, vital additional measures have already been put in place to help students. The doubled-up donations made this year will ensure:
- Emergency hardship grants to avoid the risk of homelessness;
- Bursaries to cover the day-to-day expenses that can help them take part in extra-curricular activities;
- Subsidised access to Students’ Union clubs and societies;
- Free period products across campus for those students who need them.
With this help, the current generation of Newcastle students can face the financial struggles caused by the rising cost of living, succeed in their studies and make a difference around the world.