University of Warwick will spend millions on cost of living support package for students
£3.5million will be spent by the uni to help students from low income families
The University of Warwick will be spending £3.5 million to help students as part of a cost of living support package.
From December, students who come from low income families will automatically be given financial support to combat the rising cost of living. There will be no need to apply.
This support package will be granted to over 3,000 students who already receive a bursary. Depending on household incomes, students may receive an increase of 10 per cent in financial help.
Postgraduate students at the University of Warwick will also receive funding from the package.
Currently, the university spends £45 million a year, including the new cost of living support package, on support for students.
Stuart Croft, Vice-Chancellor of Warwick University, said: “We know that many people are struggling with their finances right now as household budgets are being hit hard by the cost-of-living crisis.”
“That includes members of our own community – and we want to do what we can to help those most in need this winter.”
“That’s why we’re spending an additional £3.5m to support our community, including extra help for over 3,000 students from lower-income families to help ease the burden of rising bills. That money will be paid automatically into their accounts as part of our existing bursary schemes.”
“We know it’s a difficult time for colleagues on lower salary bands and we will make a one-off payment of £550 to offer them additional support over the winter months.”
“And we are issuing an open invite for local residents to use our Arts Centre, which will offer a friendly space for people to meet and stay warm during the day.”
“Unfortunately, there’s a limit to what we can do given our own energy bills are forecast to rise by £13m this year. However, we believe offering real, practical support to those who need it most is the right approach to take and reflects the feedback from our community.”
“Today isn’t a full stop in terms of the support on offer. We will continue to work closely with our students and staff to understand what additional help may be needed over the coming months.”