As Union President, I am very proud and excited to announce that the University Regulatory Framework Committee has approved my regulations amendment to address student financial hardship, with changes set to take effect from the 2024/25 academic year.
As Union President, I am very proud and excited to announce that the University Regulatory Framework Committee has approved my regulations amendment to address student financial hardship, with changes set to take effect from the 2024/25 academic year, pending approval from Academic Board on 2nd July.
The new amendment involves changes to the Request for Additional Consideration (RAC) policy, based on student feedback and research. Our analysis included a detailed examination of sector-wide data, highlighting the growing financial pressures on students. The Student Money Survey revealed a 14% increase in living costs, while maintenance loans have not kept pace, rising only 2.8% in England for 2023. These disparities disproportionately affect marginalised groups, including LGBT+, non-binary, and care-experienced students.
Key Findings and Insights
Our research highlighted significant financial strain amongst students, with many balancing their studies with substantial paid employment. The HEPI and NUS surveys indicated a rise in students working to cover living costs, from 9% in 2022 to 14% in 2023. Particularly affected are students over 26 years old, first-generation students, and those with caring responsibilities.
The insights gained from our Student Voice surveys were instrumental in shaping our proposed changes. Students shared poignant stories of financial hardship impacting their academic performance, highlighting the need for compassionate, flexible support systems. Despite the challenges, few students sought university support, indicating a gap in awareness and accessibility of available resources.
Policy Changes and Implementation
The approved change includes an amendment to the level 1 RAC policy, explicitly recognising unforeseeable financial hardship as grounds for a one-week extension. This change, while subtle, signifies a commitment to addressing student needs and gathering data on financial hardship to better inform future support strategies.
Additionally, the amendment provides clear guidance on applying for level 2 RAC in cases of significant financial hardship. This includes circumstances like sudden illness due to financial stress, employment termination, and severe housing issues. The emphasis is on the impact of these circumstances on academic performance, with the requirement for evidence focusing on this impact rather than financial details.
Impact and Future Directions
Starting from September 2024, students will benefit from greater transparency and consistency in how financial hardship is addressed. This policy change not only enhances fairness across departments but also strengthens the university's connection to its student body, demonstrating a genuine commitment to listening and responding to student concerns.
The data collected through this policy will provide valuable insights into the extent of financial hardship among our students, enabling more targeted support measures in the future. We are confident that these changes will make a positive difference in the academic experience of our students, helping them to overcome financial barriers and succeed in their studies.
We are proud of this significant step forward and look forward to continuing our efforts to support our student community effectively.
On behalf of the Union of Students, I would like to give a special thank you to Katie Guyler (Student Policy & Regulations Manager), for all of her support helping me get the amendment passed.
If you have any questions about this policy update, please email president@derbyunion.co.uk.