Cost of Living FAQs
What is the cost of living crisis?
The cost of living crisis refers to the fall in ‘real’ disposable incomes that the UK has experienced since late 2021. It is being caused predominantly by high inflation outstripping wage and benefit increases and recent tax increases. Energy prices have also increased hugely, increasing 54% in April 2022 and a further 80% in October 2022. Find out more.
How will I be affected?
Increased inflation means the cost of products and services is increasing. This along with the increase in energy prices means that you will find your maintenance loan might not meet all of your outgoing expenses, leaving less money for you to spend on both your essentials and your leisure activities.
I’m really worried about my finances, where can I get help?
Our Advice Team would be a good starting point if you are feeling anxious. You can contact the Advice team by completing the advice enquiry form here. If your mental health is being impacted you can also contact University Wellbeing Services too. It might feel hard, but taking the first step to reach out to talk to someone can make a big difference.
What do I do if I can’t afford to pay my rent?
If you’re worried about affording your rent, you can contact Citizens Advice or our Advice service for help.
You may also want to consider applying to the Success for All Fund for financial help. You can find more information about applying to the fund here.
I can’t afford my household bills, what should I do?
If you’re worried about affording your bills, you can contact Citizens Advice or our Advice service for help.
You may also want to consider applying to the Success for All Fund for financial help. You can find more information about applying to the fund here.