Student Beans survey reveals extent of financial assistance offered to students

Student discounts site Student Beans have conducted a survey revealing the extent of parental financial assistance given to students across the country.

The survey has shown that on average students received £3,000 a year from their parents, which was used in various ways, from rent payments to food shops.

When comparing the amount of support students receive, looking at each university, UEA hit the median of figures at £250 per month.

The highest financial hand out is shown to be for students attending Durham University, the average student receiving £500 per month, with the University of Exeter and the University of Cambridge reaching similar figures. Students attending the University of Cardiff receive the least nationally, at £25 a month. They are followed by Nottingham Trent University and the University of Liverpool, where students are given £50 a month on average.

The current maintenance loan system suggests that parents should be contributing as much as £4,100 to their child’s living costs annually, though this does decrease in line with the amount of student finance they receive.

In addition to looking at which university receives the most financial support, Student Beans also looked at where students’ parents reside. The survey indicated that there is a correlation between to geographical location of where you live and how much financial assistance you receive. Student Beans found that parents from the South East and South West were the biggest contributors to their children’s pockets, giving £450 on average.

Parents from areas such as East Anglia and the Midlands were reported to give their children the least in comparison, totalling at around £50.

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Jess Barrett

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July 2022
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