Jenny Evans writes for Newcastle University’s The Courier on whether students should be given their loans in weekly payments:
The day you receive your student loan is, for the majority of students, like all your Christmases have come at once. Your bank balance suddenly jumps from £0 to over £1000 in just one day and the temptation to go all out and purchase a Mac, a once in a lifetime holiday or at the very least copious amounts of alcohol is enormous.
Such frivolous spending results in students often getting to the end of term with next to no money and that terrifying phone call home to beg your parents for something to tide you over as your ‘textbooks’ for that term were particularly expensive.
Should there then be better regulation of how students spend their money? The idea is one which is already in practise at the University of East London with regards to its bursaries and grants. Students are only allowed to spend their money on necessities such as books and rent, something which UEL’s pro vice- Chancellor Selena Bollingbrooke has stated leads to better results and better attendance…
Full article here.