Students’ perspectives on the impact of the cost-of-living crisis on wellbeing, attendance, retention, and higher education

In an era characterised by the impacts of the cost-of-living crisis and COVID-19, this research examines the effects of the UK’s cost-of-living crisis on the well-being, attendance, and retention of undergraduate Business School students through an online questionnaire. The findings unveil that students grappling with soaring rent and mortgage expenses endure adverse effects on their mental health rating and attendance in classes. Moreover, it is revealed that students are more inclined to discontinue their studies in the face of rent or mortgage rate hikes. Additionally, students burdened with high commuting costs, caregiving responsibilities, stagnant incomes, or job loss face heightened risks to their mental well-being and are prone to increased absenteeism, thereby considering abandoning their education. Furthermore, the research sheds light on the hurdles students encounters due to the cost-of-living crisis, their coping mechanisms, and proposed solutions from the university.