The 2024 Student Happiness Index, a survey of 2,382 students studying in the UK (1.), has revealed significant concerns regarding the deteriorating mental health and increasing financial difficulties faced by those in further, higher, and postgraduate education.
The survey, commissioned annually by the specialist education division (formerly Endsleigh Insurance) within Howden, the UK’s largest insurance broker (2.), found that mental health decline has had a tangible impact on students’ daily lives:
- Four in ten students have reported doing less of the activities they enjoy, nearly half feel lonely most of the time, and four in ten socialise less frequently
- 43% of students reported that their mental health has worsened over the last year, with the figure rising to 77% for students in the LGBTQ+ community
- 41% of students have sought professional support for mental health, marking an increase of 7% from the 2023 Index
- Fewer than half of respondents believe their college or university provides adequate mental and wellbeing support
- Two in five students listed the cost of living as their biggest concern, with 44% having to take on part-time work to ease financial pressures
Billy FitzJohn, Associate Director, Education, Corporate & Commercial, Howden UK&I, said: “Our research has laid bear the significant impact the cost of living crisis is having on student wellbeing, with other financial concerns causing further detriment to the mental health of those in further, higher or postgraduate education.
What’s clear is the importance of comprehensive mental health and wellbeing services being available to students throughout their education journey, including better signposting and easy access to those services at all times and whenever needed.
However, with education institutions facing their own financial pressures, the need for industry-wide collaboration has never been more important if we are to safeguard the education community and address its complex needs.”
Financial Challenges:
Financial challenges, particularly the cost of living, remain a dominant concern for students, with many struggling to afford food and essentials. This has resulted in 44% of students taking on part-time work to ease their financial pressures. However, this has come at a cost of their academic commitments, with a third of students missing lessons, lectures, or seminars to take on paid work, an increase of 11% from the 2023 Index.
Financial pressures have also led two in five students to incur additional debt in the last year, with many resorting to credit cards, overdrafts, or loans to support themselves. Nearly half (48%) of students anticipate taking on more debt in the next 12 months, and 47% expressed concerns about the level of their student debt.
Geographic Variations:
Where they study also has an impact on students’ mental health, as almost three in five studying in Scotland were found to have had the biggest mental health decline in the last year. Conversely, the East of England and West Midlands reported the least severe decline at 35%.
Student Safety:
Student safety emerged as another key topic, with six in ten students studying in the Northeast feeling safe, the highest in the UK. However, only a third of students in London felt similarly, marking the lowest safety perception in the country.
The Role of AI:
The role of artificial intelligence (AI) in students’ future careers was also a key topic of discussion. Nearly half of the students surveyed believe that artificial intelligence (AI) will negatively impact their job prospects. However, 45% have turned to AI during their studies to improve efficiencies.
Optimism Amidst the Challenges:
Despite the challenges, the survey revealed some positive outcomes. The 2024 Student Happiness Index score (3.) rose from 36% in 2023 to 44%, suggesting that students are finding some reasons for optimism. Notably, 60% of students expressed optimism about life after education, an increase of nearly 20% from the previous year.
Read the 2024 Student Happiness Index in full here: https://www.howdengroup.com/student-happiness-index
