Nearly 300k students now live at home due to cost-of-living crisis, according to new survey

It comes after Rightmove data suggests rent is at the highest-level ever.

A new survey from Student Beans has revealed approximately 275,186 more students are living at home during term-time.

The survey found that in 2022, 40% of students lived in their family home during the school year, with 37% living in private accommodation off campus, 15% living on campus and just 8% living in accommodation owned by the university off campus.

There was a 1 in 10 increase in the amount of students living at home compared to a 2020 survey where just 30% of students lived at home during term-time.

Student Beans also found that in 2022, only 15% of students lived on campus, compared to 21% in 2020.

Jessica Pinkett, Head of Youth Insights at Student Beans, provided this comment to West Wolds Radio.

“The data collected by Student Beans just shows the effect the cost-of-living crisis is having on students, and what will ultimately have a knock-on effect for both universities and landlords.

Student Beans found that almost three quarters of students have stopped socialising as much (71%), with half having skipped meals (49%), which could be why some students have made the move from living in accommodation to living at home with family where there may be less financial pressures.

The data from Rightmove has signified just how difficult it is for students to manage their finances with the majority of their income coming from student loans and part-time jobs.

With expenses for students increasing, we could expect more students to start living at home with family, and this will undoubtedly have an impact on universities and landlords who make their money from rent, and as energy bills continue to rise we can expect rent to as well.”

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