According to SLM 2024 reports, more than 2/3rd of the students are not comfortable with their finances.

Wellbeing_NPS is also significantly impacted as financial worries grow. Those who can handle a major unexpected expense achieve a Wellbeing NPS score of -3.8, whilst those constantly worrying about money report a score of -30.5. Where providers can offer a hardship fund, this needs to be actively promoted. Further work should be conducted on how providers can also support students through budgeting advice.

Note: The negative wellbeing_NPS scores indicate the accommodation is not adding to the wellbeing of students

As with the SLM23, the happiness scores of respondents are impacted by the financial situation students find themselves in. This is not linked to the amount of rent they pay (where there is no relationship to wellbeing), but the perception of their ability to manage financially. For those students whose finances are a constant worry, their MHI-5 Score is 18 points below (at 47.4) those who could easily handle a major unexpected expense (65.5). 21% (or 1 in 5) of students in the SLM have highlighted that their finances are a constant worry to them.

The need for professional, easily accessible support services to help those with mental health struggles is as evident this year as last. Those who are accessing mental health services report MHI-5 scores that are markedly lower than other students which might be expected. However, the Wellbeing_NPS score or MH Impact reported by those accessing support services is high, indicating that where professional services are available, they are very much valued.

SLM finds that 52.2% of the SLM respondents do not have access/are not aware to mental health services. Thus, there is a huge opportunity for the stakeholders such as universities, and operators to work closely with each other and mental health professionals to make this critical service widely available for their students. The lowest rates of accessibility to mental health services are in Belgium, Sweden, and Denmark. More mature markets such as the UK, show better access and more awareness to support services.

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