We found that, at the beginning of last year, students felt they needed an extra £329 a month to be confident they would be able to complete their degree. In fact, worrying about making ends meet was so widespread that it was causing 48% of students surveyed to consider dropping out or deferring a year due to money constraints and 75% reported that worrying about finances was impacting their mental health.

Whilst this undeniably paints a bleak picture, it is also important to note that the survey was completed during an acute point of crisis and disruption for students. To track how student financial wellbeing is evolving and find out whether any of the key themes that emerged in 2021 are year-on-year trends, we decided to conduct the research annually – enter the Blackbullion Student Money & Wellbeing report.