University students face £5k hike in fees amid cost-of-living crisis

UNIVERSITY students are expected to face a major blow as fees are set to rise due to cost of living crisis.

Brits pursuing academic degrees will be £5,000 worse off cash this new term, experts warned.

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Worried Brits believe they will struggle to afford academic items this upcoming term.

Research commissioned by eBay found university students will be an extra £411.58 out of pocket this month.

A poll of 500 undergraduates found 85 per cent believe they won't be able to pay for their expenses this year.

Expensive items like phones, laptops and desktop PC equipment are student's top needs.

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But more than 70 per cent said they are short of cash to pay for them.

Head of refurbished technology at eBay UK, Mark Monte-Colombo, said: “Students are already known for being ‘skint’, but it’s worrying to think about how the rising cost of living is impacting their lives and education."

Most will be resorting to other funds - with 75 per cent considering to use their savings and 67 per cent relying on credit cards.

Commuting students and those living away from home will also face a price hike on travel, textbooks and food shopping.

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The poll also revealed a 54 per cent receive money from their parents to afford these bills - with an allowance of around £383.01 per month.

More than half of Brits have a maintenance loan, but 42 per cent said the money is not enough to cover their costs.

For this, 87 per cent are planning to save money buying refurbished tech including laptops and tablets.

However, others are taking drastic measures and to tackle the cost of living crisis by moving to a university close to home to save money.

Meanwhile, 62 per cent have revealed they would have ditched university altogether if they had known how expensive it was to be a student.

Ebay UK has launched a Back to Uni hub where students can get their .

Mark Monte-Colombo explained: “We want to do whatever we can to help - so we're raising awareness of the savings to be made by shopping refurbished tech or by choosing discounted homewares from our Back to Uni hub.

“The hub is designed to help student budgets stretch a bit further, while making sure they don't miss out on top brands."

The Back to Uni hub is running until 9th September with available deals on desks, chairs, kitchenware and bedding.