The Silent Struggle: Why Money Has Become a Taboo Topic Among Exeter Students
At the University of Exeter, the ongoing cost of living crisis has transformed everyday conversations among students, turning discussions about finances into something rarely broached openly. Recent reports highlight how students like Honor Borley, a third-year theology and religion student, describe money as 'a very taboo subject, and people tend to keep it internalised, which in turn adds more pressure onto students.' This reluctance to talk stems from fears of being seen as complaining, yet it exacerbates isolation during a time when financial pressures are mounting across UK higher education institutions.
Thomas Richardson, another third-year history student, shares how rising costs have forced dietary changes: 'I’ve definitely changed what meals I’m having and it’s probably not as nutritionally good for me. Things like pasta and sauce are becoming more common – I didn’t have that last year or the year before.' Pub prices have surged too, with pints jumping from £4.80 to £6.70, making social outings a luxury. These personal accounts reflect a broader reality where students juggle studies, part-time work, and basic needs.
Revealing the Numbers: How Dire Is the Financial Picture?
National surveys paint a stark picture of student finances in the UK. According to the National Union of Students (NUS), 96% of students are cutting back due to rising costs, with a third surviving on less than £50 a month after rent and bills. Save the Student's 2024 survey reports average monthly student spending at £1,104, with South West England—home to Exeter—at £1,189, driven by £540 average rent and £76 in household bills.
At Exeter specifically, a 2023 Exeter Students' Guild survey of over 1,000 students found 94% concerned about the crisis, with average monthly income after accommodation just £2 per week above the UK destitution line and below the poverty line. One in four regularly skips food or necessities, enduring freezing homes without heating. These figures underscore why 'money becomes taboo'—admitting such precarity feels like failure in a system promising opportunity.
Academic Performance and Mental Health Under Siege
The ripple effects extend far beyond budgets. Over half of Exeter students report negative academic impacts, with one in five considering dropping out due to finances. Honor Borley notes working 20-30 hours weekly previously tanked her grades, forcing a cutback to 8-16 hours for better performance—yet income suffers. Nationally, 90% of students link the crisis to mental health declines, with 31% calling it 'major,' including sleepless nights from debt anxiety.
Mental health services at universities are stretched, as financial stress compounds academic pressures. Students from deprived backgrounds or international cohorts face amplified risks, with 11% accessing food banks—double from early 2022. This creates a vicious cycle: poor mental health hampers studies, risking future employability in a competitive job market.
Exeter University's Response: Hardship Funds and Practical Aid
The University of Exeter has stepped up with the Success for All Fund, a safety net for unexpected hardships where essential costs exceed income. Open to all registered students (undergrad and postgrad), it covers rent, food, bills, emergencies, and even £200 toward Disabled Students’ Allowance equipment. Awards are non-repayable, based on NASMA guidelines assessing income versus composite living costs. Applicants must exhaust loans and savings first; international students face stricter criteria but can access for dire needs like medical emergencies. Applications are online with evidence (bank statements, tenancy agreements), decisions in four weeks.
Bridging loans up to £500 at 0% interest offer short-term relief. The Exeter Students' Guild complements this with a Societies & Clubs hardship fund (£50 off memberships) and advice services for budgeting, benefits, and debt. Free resources like Soup Fridays, community pantries, and hygiene stations help stretch budgets. For more details, visit the University's financial help page.
Government Support: Maintenance Loans Get a Modest Boost
UK government aid includes maintenance loans for living costs, with a 2.71% increase for 2026/27 academic year starters and continuers, aiming to offset inflation. However, critics argue it's insufficient against soaring rents and food prices. Additional grants target low-income families, care leavers, and disabled students, but NUS calls for alignment with the Living Wage and reintroduction of maintenance grants.
Benefits like Universal Credit are accessible for eligible full-time students (e.g., estranged, parents, disabled), alongside Parents’ Learning Allowance and Childcare Grants. Despite these, many students rely on parents (average £171/month) or part-time jobs (58% working 39 hours/month average). Check gov.uk for full 2026/27 details.
Part-Time Work: A Double-Edged Sword for Student Success
- 58% of UK students hold part-time jobs, earning £507/month on average, but 46% say hours clash with studies.
- Exeter's Career Zone lists flexible on-campus roles, with CV and interview support.
- Risks include grade drops, as Honor experienced, and burnout from balancing 20+ hours weekly.
While vital for income, excessive work perpetuates inequality—wealthier students focus on academics, gaining edges in competitive fields like academia and research.
Broader Impacts Across UK Higher Education
Exeter's story mirrors the nation: 42% of students live on £100 or less monthly post-bills per NUS. Universities face deficits, with 72% projected in the red by 2026, leading to job cuts and course closures. International students suffer too, with visa curbs and high costs hitting enrollment. Mental health crises rise, dropout considerations climb, threatening social mobility.
Practical Tips: Budgeting and Saving in Exeter
Exeter's lower costs versus London help, but budgeting is key. Track spending early—avoid taxi/coffee habits. Use free events like ResLife Crafternoons. Shop smart: frozen over fresh, pasta staples. For Penryn campus, leverage cheaper Cornwall living and SU perks.
Photo by James Fuller on Unsplash
- Attend budgeting workshops via Wellbeing Services.
- Apply for bursaries: Access to Exeter for low-income undergrads.
- Explore side hustles or grants (25% unaware per surveys).
Looking Ahead: Calls for Systemic Change
Solutions demand multi-stakeholder action: inflate-proof loans, grants revival, university efficiencies. NUS urges tailored packages; guilds push transparency. Exeter invests heavily, but broader reforms—like wage-aligned support—could break the taboo, fostering open dialogue and equity. As costs persist into 2026, proactive measures will define UK higher ed resilience. Explore NUS insights or Save the Student data for deeper dives.