We are constantly being told that, as students, we’ve never had it so good. That we live a life of luxury - compared to our parents’ generation - with our designer clothing, brand-new laptops, and takeaway coffees. Yet we’re also the generation of tuition fees, debt and public spending cuts. The Student questioned students at the University of Edinburgh to see whether the modern day student really does live a life of hedonistic extravagance, or whether in reality, we are scraping the last baked bean out of a Tesco Value can in order to pay for our education.

In 1998 tuition fees were introduced despite Tony Blair’s 1997 election promise that New Labour’s priority was going to be ‘education, education, education’. The post-war manifesto that all Local Education Authorities must pay university tuition fees and offer full-time students a maintenance grant, became a privilege of the past. Now Edinburgh University students, except Scottish and non-UK European nationals, must pay top-up fees from as little as £1,820 per annum to a whopping £31,900 per year for international students who want to study Medicine. In a survey which drew responses from 100 students at Edinburgh, 60 per cent disclosed that they had taken out a student loan to cover the cost of their tuition fees, while other students admitted a dependence on their parents and employment during the holidays to fund their studies. 

University funding is likely to change under the current coalition government with talks of the cap on the current top-up fee level being raised. A recent report by NUS and HSBC showed that 70 per cent of students would be put off going to university if top-up fees were increased to £7,000 per annum. This increase would leave students with an average debt of £32,000 on graduation, according to a report published by Universities UK last year. 

Current average levels of graduate debt stand at £21,198 for students graduating in July 2011, according to the university research site Push.co.uk. While a report by the Association of Investment Companies (AIC) showed that the parents who claim that ‘students have never had it so good’ are under-estimating the present level of student debt. The AIC report suggested that a quarter of parents believe that students will acquire no more than £10,000 on graduating, less than half of the predicted level of student debt. 

When asked about the prospect of graduate taxation, opinions amongst Edinburgh students were mixed. One student was firmly against the proposal of a graduate tax, claiming that "additional tax for graduates is ridiculous, those who earn more already pay more tax under the existing tax system." However, another student stated that going to university creates "endless opportunities for the future. For me, the benefits I gain from going to university would probably almost always outweigh any taxes or fees that would be incurred". The current government will need to decide whether university education is a privilege that should be funded by the individual or whether it would be detrimental to Britain’s economic recovery if it continues to penalise its most skilled workers.  

However, tuition fees are just the tip of the iceberg when it comes to the costs of university education. With many students living away from home, and sometimes studying at the other side of the world, maintenance costs hit students the hardest. NUS Scotland found that 62 per cent of students studying in Scotland felt that the lack of financial support was having a negative impact on their studies, with 36 per cent considering dropping out of university due to financial worries. 

The average Edinburgh University student pays £337 per month on rent and £276 per month on living costs. Totalling £613 per month and £7,356 per year. One Edinburgh University student complained that "a lot of people are put off because of the cost of university life. The UK student loans do not cover your rent and basic living costs"; the standard UK student maintenance loan stands at £3,564, not covering even six months of living costs and rent. 

Scottish students, although they do not have to pay tuition fees, receive even less government support and do not have the same access to the standard UK student loan. One Scottish student revealed that "It is very difficult for me as a Scottish student. I get the bare minimum of a loan (£58 per month) which does not cover anything. I am struggling my way through university because the loan system does not take into account my siblings and my parents’ situation."  

Liam Burns, NUS Scotland President, deplores "our broken financial system that hits the poorest the hardest." He said of the results: "Education in Scotland is not free and it’s certainly not fair. Scottish students receive the lowest support compared to the rest of the UK. It’s no wonder that Scotland has the lowest level of students from disadvantaged communities and state schools entering higher education in the UK." 

The same NUS Scotland report showed that 68 per cent of students studying in Scotland were working more than the recommended 10 hours per a week, with 47 per cent of these admitting that combining part-time work with study was having a detrimental effect on their degree. 39 per cent of Edinburgh University students have to work part-time during term time in order to fund their day-to-day living costs. One Edinburgh University student bemoaned being forced into "low-paid part-time jobs and £20,000 worth of debt" because of their financial situation. They revealed that they felt "disgusted and let down by the higher education system. I’ve struggled financially with overdrafts, part-time jobs, volunteer work, and constantly struggled to pay my rent. Whilst most of my friends have just happily strolled through their degrees with the financial means to do the volunteer work and the unpaid internships that will raise their employment prospects." 

When it comes to living up to the student stereotype of being all-night boozing, takeaway-gnawing, know-it-all bums, Edinburgh University students are certainly lacking the cash to fund the lifestyle. When asked what items they spend the most on each month, food and bills polled the highest. Food for home cooking, is Edinburgh University students’ greatest essential with 88 per cent of Edinburgh students spending most of their monthly budget on grocery shopping. Bills were the second biggest spend, with 50 per cent of students blowing their maintenance loan on paying their Scottish winter heating bill. Luxuries like alcohol and clothing, which are generally perceived to be the staple student spend, were not priorities on Edinburgh University students’ budget. When asked how their food budget compares to their alcohol budget only 19 per cent of students spent more on alcohol than food, whilst over half of students (61 per cent) spent less on alcohol,with 10 per cent of students not buying alcohol at all. 

As for the student generation that has it all? I think ‘student recessionista’ is a more apt stereotype. Not only are students expected to balance a full-time degree with a part-time job, unpaid internships, weekly societal involvement and the odd saving a child in Uganda during their gap year, but they’re expected to accomplish this on a budget even the coalition government wouldn’t dream of offering benefits claimants. Despite the safe investment higher education offers - for every pound invested in higher education there is a return of £3 to our economy - it may be a while before students receive the government support they need to make education fair and to prevent students from living in poverty. Pass the Tesco Value baked beans, anyone?