New figures released today unveil the surprising value of the UK student market. Uncovered by Student Beans, the online platform providing success for businesses with Generation Z, these new findings highlight the lucrative reality of the student economy and why Gen Z is more financially savvy than we think.
In total, around 2.4 million students enrol in university programmes across the UK. Of this figure, 94% of eligible students take out student loans via Student Finance England to fund their degree fees, maintenance costs – or both. Almost a quarter (23%) of students have additional sources of income from part-time work, and 1 in 5 UK students are supported financially by their families.
The student economy
The latest 2021 figures reveal that in total, UK students are collectively receiving an annual income of£20.9 billion – an average of £8,725 per university student. Of this figure, Student Beans reports that UK students are spending £12.7 billion per year. Despite the significant amount of disposable income, Gen Z students are making sensible…