University of Exeter is investing £3 million to help students with the cost of living

The University of Exeter has announced it will be investing £3 million to support students during the cost of living crisis.

The university will be adding £2 million to their cost of living support measures, after making an investment of £1 million in September, into the “success-for-all-fund”, which provides a hardship fund and bursaries for computer equipment. Now, the university has said it will be adding £870,000 to the Winter Support Bursary, and a further £1.2 million is to be added to support PhD students.

Exeter has also given details of other support measures in place, which include adjustments to the uni’s mitigation policies to account for financial stress, saying: “During this academic year, financial circumstances will be included as reason for mitigation for assessments and exams, allowing students to delay or postpone handing in an assessment or taking an exam in these exceptional circumstances. Students can also be referred for support if they are struggling. Payment dates for fees have also been amended to mitigate hardship related to timing of loan payments.”

The university has implemented other measures to help support students, which include increasing the availability of “24/7 warm spaces”, broadening “free and low-cost sport and gym sessions”, and introducing “healthy snack options” to info points.

The Vice-Chancellor in their latest address regarding the cost of living crisis highlighted how eligible students (home fee-paying students who have declared an annual household income of less than £30,000) can “automatically” receive a “one-off winter payment of £150”. Furthermore, all students, including those who have received the winter payment, can apply for  the Hardship Fund. The Fund also offers specific bursaries including an IT bursary to help financially if students are struggling to afford computer equipment, and support if you are unable to afford to pay for a diagnostic assessment.

The university are also working with the leading debt-advice charity, Step Change to provide students with free, and personalised support during this period.

PhD students funded by the UKRI received a 13 per cent increase in their funding for this academic year to account for the increased cost of living, and this investment of £1.2 million by the university is stated to match this increase for university funded students, with “additional provisions” made available for self-funded PhD Students, although details of this were not provided.

The Guild are running free budget workshops every Monday in term one, to help students manage their finances.

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