Ask most students about their financial concerns at uni (something we do often!) and few are concerned with student loan repayment. What they actually talk about is the practicalities of living on the loan – how it’s not enough, how it’s too much at once, and so on.
We’re planning a large-scale research project to address this, and we need your help to spread the word among students!
An issue that comes up time and time again is how hard students find it to pace their spending and make their loan stretch until the next quarterly payment.
Receiving a lump sum can be a challenge at any time, but it’s one that’s made infinitely harder for students by brands planning their marketing around loan payment dates and ‘conveniently’ launching 20% off codes on the same day!
We believe, alongside many money advisors and student support staff members, that monthly disbursements would be better for students.
It would make budgeting much easier and would get students used to good habits for life (more like a regular salary).
It would also improve financial wellbeing and mental health by reducing the anxiety that comes from trying to budget for 12 weeks at a time in the face of so many financial distractions.
We believe it to be true. Now we want to prove it!
So we’re doing what we do: looking at the data. To get the data, we’ll be undertaking a longitudinal research project with students.
We’re looking for students who may be interested in participating in this large-scale research project about how student finance impacts on financial wellbeing and success. And we need your help to spread the word!
As a thanks for taking part in the research, we’ll pay one student’s rent for a year and three students’ rent for a term! (T&Cs apply).
Direct students here, where they can find more information and register their interest.
Please help us spread the word on your social media channels and in your conversations and communications with students.