Students find money management just as stressful as exams
With Student Finance application deadlines looming, a new survey reveals that UK students find the stress of managing their finances on a par with sitting exams.
Credit: Bernard Goldbach – Flickr
University students find money management just as stressful as exams, a new survey by Which? University has found.
Back in April, the survey asked more than 2,000 UK undergrads what they found most stressful about university. Despite being surveyed at a time when exam period was looming just round the corner, a whopping one in seven (15%) still ranked managing finances as the most stressful aspect of going to university.
The same number of participants (15%) said exams were the most stressful part of doing a degree.
The only thing to trump both money and exams in the stress stakes was keeping up with coursework, which 18% of respondents said was the most stressful.
We can't say these figures come as a surprise, since in our annual student money survey last year as much as 80% of students told us they worry about making ends meet financially at uni. 65% said their diet suffered as a result of this, and 56% said money problems affected their grades.
What else do students find stressful about uni?
Here's what the survey found UK students say is the most stressful aspects of uni life, ranked highest to lowest.
- Coursework: 18%
- Exams: 15%
- Managing my finances: 15%
- Adjusting to the structure and requirements of my course: 12%
- Being away from family, friends and loves ones: 9%
- Making new friends: 7%
- Health issues: 6%
- ‘Student life’ not living up to expectations: 5%
- Living conditions in my accommodation: 4%
- Trying to fit in: 4%
- Other: 3%
- Settling into a new area: 2%
Interestingly, managing finances appeared far higher up the list than some other big changes students go through at uni, like being away from friends and family, poor student living conditions and health-related issues.
It was also found that a large proportion (42%) of young people from lower socioeconomic backgrounds weren't applying for university because it's too expensive, and those who do apply are statistically more likely to drop out after their first year.
Are you stressing about money at uni?
If you're one of the many students who find money management gets their head in a spin, you've come to the right place!
And while we've got your attention, the deadline for Student Finance applications is tomorrow (for new students) – make sure you know the important dates!