Laura Nilsson - Authorlaura.firstname.lastname@example.org
Luna Mansour - Illustratorluna.email@example.com
SSCO - Photographerinfo@ssco.se
What can students expect their budgets to look like when the inflation is at an all time high? A budget deficit of almost 3 000 SEK, half of income spent on rent and increased food expenses — a budget that is simply not adjusted to a Stockholm student’s living expenses.
For the third year in a row, SSCO Stockholms studentkårer have investigated what Stockholm students can really expect in terms of their financial situation. The study found that an average student in Stockholm will have to expect a budget deficit of 2,709 SEK per month. That is a larger sum compared to last year’s 2,673 SEK.
The rise in living costs, especially housing and food expenses, has been the primary reason behind the increase in students' overall expenses. As a result, students are spending nearly half of their income on rent alone. Moreover, the rent increase by SSSB (Stockholm Student Housing Foundation) has now been determined for 2023, adding even more pressure to the already difficult financial situation. The rent increase will apply from February, so students will have to pay retroactively as well, spread out over the coming months.
The increase of the CSN (Swedish National Board of Student Aid) student loan by 1,000 SEK that follows the increase of prisbasbeloppet (the price base amount) is not sufficient to cover the rising costs. Meanwhile, the grant for students of 3,652 SEK has not yet been adjusted to match the current inflation, nor to a Stockholm student's living expenses. This means that many students are struggling to make ends meet and are forced to live on a tight budget.
Meanwhile students are waiting for times to change, they are advised to adopt frugal and sustainable living practices. Cooking large amounts of food at home, buying second-hand items and repairing clothes instead of buying new ones. Although this does not solve the problem, students can save money and minimize their expenses while still maintaining a comfortable lifestyle.
Photo: SSCO's President Sofia Holmdahl
Get more details and read the whole report here: https://ssco.se/wp-content/uploads/2023/02/Stockholms-studentbudget-2023_SSCO.pdf