The Quickie

A bite-sized look at this week's news…

Posts Tagged ‘financial crisis’

Is university a credit crunch haven? Continued

Posted by allie1985 on October 29, 2008

While the whole country seems to be in a financial meltdown, some of the Students at Westminster University are still living the high life.

Why are they not affected?

 A few students have made no changes to their spending whatsoever, although it might be because they have jobs as well as loans to fund them.

 Students

 

Sophie Spurgon who is a 1st year studying for a BA Digital Imaging and receives a full loan of £6,475. She mainly uses her loan to pay for Driving Lessons; the rest is put into savings.

“The credit crunch hasn’t affected me at all, although working definitely helps me financially”. Sophie works in a Camera store and lives on campus. She spends her extra money on going out, and designer clothes. She has no plans to cut back.

2nd year, Cameron Tariq is studying computer science and  has a similar point of view “I haven’t been affect by the credit crunch as I don’t spend much anyway”.

He mainly spends money on “boying up” his car, and smoking. He thinks he has so much money because he does not drink.

Cameron works one day a week in Homebase and reckons “the extra £100 a month really helps”.

 

Spending

What students say about their spending seems to be confirmed by the university Upper Crust sandwich bar. According to Mary who works there, “Students always spend whether they have money or not. I have not noticed a difference in sales at all over the three years I’ve been here”.

Eileen Shredd, the Student Union Shop Manager says much the same thing. She admits that prices has recently gone up due to suppliers increasing their prices but says, “If anything, we are doing better than before”.

According to Eileen, more students are coming to she shop since the canteen has also increased its prices. In the shop a bottle of coke is 95p whereas in the Canteen it costs £1. The shop also sells water for 50p whereas it also costs a pound in the canteen.

 Not everyone is happy

 

One student, Aaron Dixon, does feel affected by the credit crunch. He is a 2nd year photography student and unlike the other lives off campus in Kenton Road.Like Cameron and Sophie, he receives a full loan. He also works 3 days a week in a swanky hat shop called New Era. Aaron spends most of his money on rent, clothes and food.

“Certain things like bread, milk and eggs have really gone up. They are more expensive than usual. I really just try to buy what’s on offer”

Aaron has also started going out much less, “Clubs are just charging excessive prices and drinks have gone up lots”. It seems that having to pay for food, bills and travel really affects the student lifestyle.

The key to having an easy ride in the credit crunch is as follows- be an eternal student, but make sure you live on campus and have a loan.

Other articles on Students facing the credit crunch

Get Graduate warning

NUS warns students

 Alexandra Murphy

(alexandra.murphy@my.westminster.ac.uk)

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Is university campus a credit crunch haven?

Posted by allie1985 on October 29, 2008

While the whole country seems to be in financial meltdown, the Students of Westminster University are still living the high life.

Why are they not affected?

The majority of students have made no changes to their spending whatsoever, although it seems to be because they have jobs as well as loans to fund them.

 

 

 

Top 5 Student Splurges

  • Alcohol
  • Clothes/Shoes
  • Takeaways
  • Renting DVDs
  • Petrol

 

by A. Murphy

alexandra.murphy@my.westminster.ac.uk

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Millions Set To Die In Ethiopia’s Famine Crisis

Posted by sarahnics on October 14, 2008

Millions of Ethiopians are set to die in the onslaught of a new famine crisis, as it reaches an all time high. The people of Ethiopia are on the brink of starvation, and with the continued drought there will be a massive crisis, warns Oxfam.
The Ethiopian government has announced that the number of people in need of emergency aid has risen from 4.6 million to 6.4 million since June. With a further 7.2 million people already receiving government handouts of food and cash aid.

The country has been left in dire need of help from Western Countries as it tries to cope with the strain on resources.

Ethiopians are already struggling to cope with the trebling of the cost of grain this year, with the number of people on the verge of severe hunger rising by the day. The most affected are those who can no longer afford to buy food from the markets after their crops have failed.
Oxfam have released figures from the United Nations showing that there is $260 million shortfall for agencies trying to address Ethiopia’s crisis. The warning issued by Oxfam is reminiscent of the crisis of 1984-1985 famine, during which more than 1 million Ethiopian people died.

However Ethiopia is not the only region that is in danger of facing a food crisis. A summit in New York showed that progress on the pledge to reduce world hunger by 2015 had only reached the half way point.

Slow To Act


Oxfam attacked the ‘lack of urgency’ in dealing with the food crisis that is affecting a sixth of the world’s population. The crisis in the Horn of Africa which is affecting more than 17 million people is leaving aid agencies struggling to close the $700 million gap needed to deal with the crisis.

With the world’s economy in the midst of a financial crisis the fate of the world’s hungry hangs in the balance. Also the underestimation of the problem by Ethiopia’s own government means that many more will have to suffer before the world fully awakens to the plight of the Ethiopian people

Sarah Nicholas (s.nicholas@my.westminster.ac.uk)

For the background article click here: https://therealquickie.wordpress.com/2008/10/14/famine-crisis-background/

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