University college students ‘overwhelmed’ by managing funds in London | EUROtoday

Like most of the greater than half 1,000,000 college students finding out in London, Thomas Murch finds dealing with funds an ongoing wrestle.

“The cost of living has increased a lot, so doing the things I would normally do requires more money, and it’s very hard for me to balance the wants with the needs.

“There’s a lot I wish to do, however there’s a lot I’ve to deal with first.”

Thomas is a student at the University of East London (UEL), and works with the Student Money Advice and Rights Team (SMART) to teach students how to budget.

This includes help in signing up for bursaries or other programmes to obtain full funding entitlements, and supporting career development.

Thomas said the SMART team helped him to stay in control of his finances, including how to “make certain my wants are met earlier than I cope with my needs”.

As students return to universities and the new academic year, the 2025 National Student Money Survey found an average student in London spends £1,269 a month, covering basics like rent, bills and food.

Undergraduate tuition fees also rose from £9,250 to £9,535 in September 2025, the first increase since 2017.

Kayode, a final year masters student at UEL, said he worried about his finances “a whole lot of the time”.

“You must pay hire, go grocery looking for meals, and discover your method to work and lessons.”

Research by Visa, which surveyed 275 London students and 2,000 undergraduates nationally, suggested he is not alone.

The vast majority – 84% – of students surveyed in the capital said they felt “overwhelmed” by managing their cash.

Another financial burden for students in London is the cost of transport.

The capital’s Tube network is the most expensive of any major global city, with a single journey costing between £2.50 and £3.80.

UEL undergraduate student Viga Lukita raised travel costs as a concern, but said she uses the Student Oyster Card and travelled during off-peak hours to save money.

The start of the new academic year comes as social mobility charity The Sutton Trust warned pupils from private schools “are sustaining a vice-like grip on crucial roles in society”.

Data from the trust indicated the UK’s most powerful and influential people are five times as likely to have attended private school than the general population.

UEL is ranked the UK’s most accessible university for low-income groups, and 77% of its UK students come from the most deprived homes.

Prof Amanda Broderick, vice-chancellor and president of UEL, said: “Talent is evenly unfold throughout society, however alternative is not.”

She said the university provides more than £7m in bursaries and hardship funds each year, as well as running financial literacy courses and setting up a student essentials larder.

Prof Broderick also said the university supports its students to work part-time alongside their studies.

Research by the Higher Education Policy Institute suggests more than two-thirds of full-time students now work during term time – an increase on 2023.

One of these is UEL masters student Anand Sasi Kumar, who struggled to manage his money when he started his studies but getting a job helped him survive.

“Once I bought into work, I may funds the whole lot significantly better and simply.

“If you’re lucky enough to find a part-time job and you earn good money, it’s easier for you.

“When I began incomes, I may begin to exit extra and see extra locations.”

Emily Crook, a student at the BPP Law School in central London, shared some of the tricks she uses to save money.

They include looking for reduced items in supermarkets that can be frozen and kept for later, using online platforms to resell or buy clothes, and using apps to accumulate money-saving points, like Nectar card and Clubcard.

Anand recommended options such as getting council tax discounts and using railcards for rail travel.

Advice from Money Saving Expert mentioned college students ought to analysis the very best checking account for them, use web sites like Unidays for reductions, and guarantee tenancy deposits are protected.