Saeda Dahab is among young people who say the cost of living crisis has made them fear for their future.
Universities have seen many students report mental health or anxiety issues caused by financial pressures.
The government has said support is available for those who need extra help and more is being done.
But Seada, 16, from Southampton, said it has become more difficult to think about the future while “focusing on the present”.
She said the rising costs are a problem for both the children and the parents.
A few months ago, she decided to get a job to help her single mother deal with the mounting bills.
“It feels quite stressful because you’re going through a period in your life where you’re learning and planning for your future, but at the same time the present is pretty tough,” she said.
“I feel like it’s just something that’s taking over your life … and causing you to lose the motivation you should have.”
To save money, she recently started going out with her friends once a month instead of once a week.
Describing the impact, she said, “Sometimes you feel lonely and isolated because there’s no point in having friends if you’re not able to hang out with them.”
The student at St Anne’s Catholic School would like to go to college but said she might have no choice but to pursue an apprenticeship instead.
Students like 19-year-old Angelica Kanu, who studies chemistry at the University of Oxford, say, among other things, that the current situation is causing them stress.
She was recently told that she was not eligible for additional financial assistance despite coming from a working-class family who could not help her financially.
Grocery costs have become a concern for her in recent months.
“Every single day is just a fight to be as cheap as possible,” she said.
“It’s like a cycle, even though I’m supposed to be concentrating on my university work. I just feel like the money is just taking too much of a toll on my university life.”
Vaios Koukouletsos, the president of the student union at Solent University in Southampton, said more students had been asking for information about food banks and food vouchers recently.
The number of students at the University of Reading applying for hardship funds has also risen: so far in the current academic year, 305 out of 484 applications have been successful.
This is an increase from pre-pandemic times, when 124 and 156 applications were made in 2017-18 and 2018-19, respectively.
Matt Daley, the university’s director of financial assistance and customer service, said almost every application describes mental health or anxiety issues caused by financial problems.
Many also stated that they could not get any support from their families.
“There’s a lot of anxiety about being able to afford things,” Mr Daley said.
“My main concern is that students will not complete their studies. We don’t want them leaving for money.”
Students who need help with their finances have access to a range of services including:
- Student loans, which can be taken out in two parts – for tuition (the amount used to pay for university) and a living loan (for living expenses)
- Counseling and hardship funds are available at several universities
- There is additional funding for those who need additional financial help, as well as students with children or dependent adults, and students with disabilities
- Students can also access government funds earmarked to support residents struggling with the cost of living crisis
The rising costs are also a concern for first-year students.
Jade Calder, a history student at the University of Oxford, will graduate next month and said the cost of living crisis has her wondering if she will be able to access the right career opportunities in the future.
Her family cannot support her financially.
“How am I supposed to be optimistic about the future when I know it’s going to be difficult?” she said.
“It’s not a good time to have a career as a young person in this country.”
Bianca Capatina, 20, a journalism student at Solent University in Southampton, said she was scared of rising costs and thinking about the future.
“It’s stressing me out just thinking about what’s going to happen after college when prices escalate,” she said.
A spokesman for the Department of Education (DfE) said no student should have to worry unduly about their financial situation while they focus on their studies.
“We have asked the Office for Students to protect the £256million available to support disadvantaged students and those who need extra help – on top of universities’ own hardship funds,” the spokesperson added.
Maximum living grants and loans are set to rise another 2.3% over the next year, while maximum tuition fees are likely to be frozen for the next three years, according to the DfE.
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