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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

Posted in HARROW SPECIAL FEATURE | Tagged: , , , , , , , , , , , , , | Leave a Comment »