As the new academic year begins, many students in London are grappling with financial challenges. Thomas Murch, a student at the University of East London (UEL), explains that rising living costs force him to prioritize essential expenses over personal desires. Alongside his studies, Murch collaborates with the Student Money Advice and Rights Team (SMART) to assist fellow students with budgeting and accessing financial resources, including bursaries.
Recent data from the 2025 National Student Money Survey indicates that the average student in London spends £1,269 monthly, covering basic needs such as rent, utilities, and food. Furthermore, undergraduate tuition fees increased from £9,250 to £9,535 as of September 2025, marking the first adjustment since 2017. This financial pressure extends beyond tuition; for instance, Kayode, a final-year master’s student at UEL, expressed anxiety over managing daily expenses like rent and groceries.
The high cost of transportation is another significant concern. London’s public transport, notably the Tube, is among the priciest in the world, with single fares ranging from £2.50 to £3.80. Students like Viga Lukita utilize the Student Oyster Card and try to travel during off-peak hours to mitigate these costs.
UEL is noted for being accessible to students from lower-income backgrounds, with 77% of its students originating from deprived homes. The university offers over £7 million in bursaries and hardship funds annually and emphasizes part-time employment for students to help them manage living costs while studying.
In terms of practical saving strategies, students like Emily Crook share tips such as seeking reduced items in stores, utilizing resale platforms for clothing, and leveraging loyalty apps. Resources from Money Saving Expert also encourage students to compare bank accounts for the best deals and ensure tenancy deposits are secured.
Source: https://www.bbc.com/news/articles/c15kwy5xqeqo?at_medium=RSS&at_campaign=rss