Finance Overall, financial confidence among this year’s cohort Down 1 from 2023 is slightly down compared to last year, and equal to 2022 – the early stages of the cost of living crisis. The The Finance score indicates the main changes are in relation to confidence in budgeting 58level of confidence in financial skills, which is slightly lower than last year. This year means and skills. 58% of applicants are confident in their budgeting skills compared to 63% last year. Additionally, two in five applicants (40%) agree that financial issues are affecting their mental health, an increase from 37% last year. Figure 1: Breakdown of responses to Finance theme ques琀椀ons I will have enough money to cover my costs at university International applicants are significantly issues are affecting their mental health. more confident in their level of funds, Additionally, 45% of applicants who 13% 17% 25% 22% 24% family support and budgeting skills than have qualified for free school meals say UK applicants, and yet they are also that financial issues affect their mental more likely to say that financial issues health. I have family or friends that I would feel comfortable about asking for financial help if needed are affecting their mental health at 47%, Those who were applying for a degree compared to 38% among UK applicants. apprenticeship scored lower in this 10% 11% 19% 25% 36% Among UK applicants, there is no theme than those applying for a indication of a ‘squeezed middle’, as traditional degree. They were less likely I am confident that I can budget and manage my money whilst at university for each of the finance index questions to agree they have family and friends the higher the social-economic group, they could turn to, and less confident the higher the confidence in financial in their budgeting skills. 6% 11% 24% 28% 30% support and sufficiency of funds. Similarly, those in socioeconomic groups C2 and D are significantly more likely *Financial issues are affecting my mental health than A-C1 groups to agree that financial 19% 19% 22% 20% 20% Strongly disagree Moderately disagree Neutral Moderately agree Strongly agree *For this question, agreement indicates a negative response; the score for this question was reversed when calculating the index score Unite Students | Applicant Index Report 13