Tuesday 12-11-2024 - 09:48

Hi guys, Adedayo here.

You may have seen in the news that tuition and maintenance fees in England are rising, but how does this impact you and your finances? For the first time in 7 years, tuition fees are going up, by 3.1%. This is especially significant as they haven’t been adjusted with inflation over the years unlike many other costs in the UK.

Let’s dive a bit deeper and see how this change affects you:

Why are they rising?

The increase in tuition fees is part of a national policy shift aimed at addressing the gap between what universities charge students, compared to the actual cost of providing a quality education. Universities across England, including ours, have been facing funding challenges. While this rise in fees may help universities manage these financial pressures better, it naturally raises concerns among students who may already be worried about their finances.

What does this mean for you?

For University of Chester students, this may mean higher fees starting from the 2025/26 academic year. The university should inform you about any changes to your fees based on the terms and conditions set out in your contract.

It is important to note that this is not a decision that universities are making individually, and they are instead responding to much bigger financial problems that are affecting higher education in the UK. However, CSU believes that the solutions to these problems should not come at the expense of students.

There is a small silver lining though – maintenance fees are also increasing by 3.1% to support living costs for students from lower-income backgrounds. This rise will provide up to £414 extra per year to help students from the lowest income families, although this has been labelled a “sticking plaster” by NUS.

Speak Week results

You may have seen CSU staff out and about last week chatting to you about your finances as part of our Speak Week campaign, which couldn’t have been timed better with the rise of tuition fees. Here’s what we discovered:

• 41% of students reported experiencing financial difficulties while at university.
• 79% said they needed to work while studying just to meet basic needs.
• 59% stated that their funding doesn’t cover their living expenses.

As you can see, this highlights some existing anxieties around money that this news could not have helped to ease.

What happens next?

We will keep you informed as we keep an eye on the situation and continue to advocate on your behalf. If you’re concerned about your finances, the ‘Your Money’ team at the university can offer free advice on mastering your money and student funding. Get in touch by calling the Student Services Helpdesk on 01244 511550.

 

What are your thoughts? Email me at sueducation@chester.ac.uk!

Adedayo ☮