Impact of hardship fund integration with Blackbullion

Background

The team was looking to develop the financial skills of students receiving hardship funding to help them handle these additional funds, understand the importance of money management and ultimately, help them thrive in the future.

Location

York, United Kingdom

Capacity

6,500

Funding

Unknown

Team size

3

The challenge

Decrease the number of repeated hardship fund applications

In their 3rd year of working with Blackbullion, York St John University is looking at optimizing their hardship fund application process to further ensure the best possible support for students. The University is facing the challenge of a shrinking hardship fund pot – through targeting widening participation students, the ability to maximise the impact of the awards is crucial to their metrics.

The objectives

  • Reduce students’ need for hardship funding, thereby reducing the number of applications
  • Engage higher numbers of widening participation students

Blackbullion is at the core of everything we do, and I just think the more it can be out there, the better.

York St John University

The solutions

Full integration of Blackbullion into the hardship fund

York St John University modified the terms and conditions of their hardship fund awards to include the compulsory completion of 2 Blackbullion modules. The terms state the student will receive 50% of funds upon the application, while the other 50% will be released once the learning is completed.

It is brilliant because we can sign students up and they can discover the value of the product on their own.

York St John University

The impact

This led to increased financial awareness amongst the student group awarded with funds, which in turn made it less likely they would reach this  critical point of needing hardship funding again in the future. This has resulted in a  decreased number of repeat hardship fund applicants.

York St John’s collaborative efforts have resulted in an almost 25% drop in hardship fund applications.

2015/16

84

Students awarded

£80,789

Funds paid out

2016/17

60

Students awarded

£60,959

Funds paid out

Many students applying for the hardship funds are just being ‘handed over’ the money, and it is possible they will mismanage the funds. With Blackbullion we can teach them what to do with the money, and possibly help them develop new skills for the future.

York St John University

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University info

Background

The team was looking to develop the financial skills of students receiving hardship funding to help them handle these additional funds, understand the importance of money management and ultimately, help them thrive in the future.

Location

York, United Kingdom

Capacity

6,500

Funding

Unknown

Team size

3