Student Finance and Wellbeing Study (SFWS) Scotland 2023-2024: research findings summary

Potential policy considerations

It is clear from the research that many students at all study levels are struggling to meet the cost of studying, and that many students consider government student funding on its own as not sufficient to cover these costs. These findings come at a time when public funding is under increasing pressure and scrutiny, and additional financial resource may not be available for student funding. Therefore, further consideration is needed to ensure the student support offering is fair and sustainable. For example, the Scottish Government could consider the balance between the provision of universal and targeted support.

There are suggestions in these findings that while the majority of students face financial challenges, there are those whose financial circumstances are particularly precarious, including those who are unable to rely on the support of others, those with caring responsibilities and those from low income backgrounds. Therefore, ongoing consideration should be given to how these groups can be further supported when studying. In recent years, support for specific student groups has been provided, and there has been an increase in university attendance amongst care experienced students and students from the 20% most deprived areas[xvii]. To ensure this progress continues, better targeted support of those groups in the most need, financially or otherwise, needs to be considered.

Another important consideration is the balance between repayable and non-repayable education related income. Loans for FE students could help improve the income of FE students, yet 65% of FE students are concerned about taking on student loan debt. Findings from this research, and other studies, show that those from the most vulnerable backgrounds are particularly debt averse. This includes estranged students who relied on student loans but were concerned about repaying them in the future. If funding continues to be offered predominantly in the form of student loans, there is a potential risk that this may hamper on-going efforts to widen access, at all study levels, for particular student groups. This research highlights a desire from a range of students for more non-repayable bursaries though balancing this within available budgets would require careful consideration from the Scottish Government.

In addition to reflecting on how student funding is distributed, how it is promoted and communicated to potential or current students could be more effective. While there is information available on student funding from a range of sources, students are facing challenges finding and using this. Students in this research were often unaware and unable to access financial sources of support they may have been eligible for. Although progress has already been made, additional work is required from schools and the further and higher education sector to improve the promotion of and accessibility to information, advice and guidance on all elements of student support. This could help to further ensure that the burden on students in finding information is reduced, that students fully understand their financial options and are able to access appropriate support.

Possible areas for future research

While this study has produced detailed and rich data which can be used to inform future policy, there is also a need for further research on specific student groups. For example, more targeted in-depth research on the experiences of FE and HNC/HND students studying at colleges, who tend to come from more deprived areas, would be beneficial. Further research on the experiences of postgraduate students, student parents, and student carers, as well as with students with protected characteristics, would also help provide greater insight into their experiences when at university or college. Finally, repeating this research more frequently to understand the financial experiences of students over time would be invaluable.