Student Income and Expenditure Survey 2007/2008: English-domiciled students
This report presents the most detailed, comprehensive and authoritative assessment undertaken of the income and expenditure of students in Higher Education (HE) in England.
The survey looks at students’ financial situations under both the new and old financial support systems, and compares these with the previous survey (2004/05).
The report finds that:
- The average expenditure of undergraduate students in their first year of study has increased by 12 per cent since 2004/05. This was driven by an increase of 68 per cent in the cost of participating in Higher Education – mainly due to the introduction of variable fees in 2006.
- More than 80 per cent of students consider the long term benefits of higher education outweigh the costs and that they will ultimately earn more as a result. Students’ incomes increased in line with this - up by 15 per cent since 2004/05 due to the new student support package, including the tuition fee loan.
- Increased financial support means that students are relying less on family and paid work for income.
- First year students are less likely to combine work with their studies; the proportion working during term time dropped from 58 per cent to 49 per cent.
A separate report covers students from Wales.