Students are resorting to selling their possessions or signing up to “sugar daddy” websites to make money, as new research reveals more than a third of parents are struggling to support children financially at university due to rising living costs. In a poll of more than 1,000 undergraduate students and 1,000 parents and guardians in March, 73% of parents and 66% of students said they were “extremely worried” by increased living costs, with students turning to cryptocurrency investments, paid clinical trials and sex work to make ends meet.
Nearly a third of students – 32% – said they were selling belongings to cover costs, while 8% said they had signed up for scientific or clinical trials. One in 10 had set up cryptocurrency accounts, while 9% had turned to gambling, and 8% were trying to become social media influencers. A minority – 4% – said they had signed up to a “sugar daddy” or “mummy” dating site to make money.
In total, 36% of parents said they were struggling to support children studying at university, while over half – 54% – of respondents said they believed increased costs of living were putting a strain on family life. Nearly three in 10 – 29% – students said they actively hid debts from friends and family, and 50% said that money worries were affecting their mental health.
