Increased income difficulties among higher education students – income is scarce for one in five
Income difficulties have increased among higher education students over the past three years. The share of students who felt that their income was very scarce and uncertain has increased from 13% to 19% during this period.
Income difficulties have increased among students at both universities and universities of applied sciences. However, scarcity and uncertainty of income continues to be more common among UAS students (24%) than university students (15%).
These results were obtained in the Finnish Student Health and Wellbeing Survey (KOTT) conducted by the Finnish Institute for Health and Welfare (THL). The survey was implemented in spring 2024. A total of 3,600 students aged 18–34 from higher education institutions around Finland participated in the survey.
Twenty-four per cent of students reported that they were afraid of running out of food due to a lack of money, and 18% said they had to compromise on buying medicines. These experiences were clearly more common among UAS students than university students.
The results are similar to those observed among young adults in surveys of the general population.
“There are certainly several factors contributing to the increased income difficulties that students are experiencing,” says Chief Researcher Laura Kestilä. “The rise in consumer prices and interest rates caused by high inflation affect the daily life of often low-income students and the sufficiency of their income. The situation has probably been exacerbated by cuts in housing support, which will make it even more difficult for students to manage financially in the future.”
“Many students take out student loans, and most of them use it to cover essential daily expenses. A loan-based income can increase financial uncertainty, especially for those without solid employment prospects after graduation,” adds Kestilä.
The majority of students find their daily life is safe, but many are sceptical about the future
Most higher education students find their daily life very safe. Eighty-eight per cent of men and 79% of women feel this way. However, the sense of safety decreases slightly with age.
Sixteen per cent of students do not feel confident about their future. Among men, this share increases steadily with age.
“The results may be an indication of problems with wellbeing and income and concerns related to these areas, especially when considering the many crises of recent years,” says Research Professor Sakari Karvonen.
“The lack of prospects and hopelessness perceived by young adults are concerning signals for society as a whole. In order to strengthen faith in the future, it is important to ensure that young people have the framework needed to maintain a stable daily life. We also need to reinforce young people's resilience regarding uncertainty in the future,” Karvonen continues.
THL will be reporting extensively on the health, wellbeing and service use of higher education students during the autumn
We will publish extensive results of the Finnish Student Health and Wellbeing Survey (KOTT) during the autumn. Some of the results will be communicated in cooperation with the Finnish Student Health Service (FSHS). The results are available according to gender, age group and higher education sector.
These results provide a versatile picture of the health, wellbeing, study abilities, and health services of students and any changes that have occurred in them.
Source:
Income and indebtedness, KOTT 2024 online report (only in Finnish)
Safety and the future, KOTT 2024 online report (only in Finnish)
Indicators in tables (only in Finnish)
Further information:
Laura Kestilä
Chief Researcher
THL
tel. +358 29 524 8795
[email protected]
Sakari Karvonen
Research Professor
THL
tel. +358 29 524 7449
[email protected]
