Quarter of students using credit schemes to ease the squeeze

Students “cutting back on showers” and taking out loans as cost-of-living crisis bites

Students are increasingly turning to buy now, pay later credit schemes to help them cope with the cost-of-living crisis, the National Union of Students has warned.

A survey of nearly 3,500 students and apprentices carried out in June revealed that 24 per cent had turned to credit schemes such as Klarna to support themselves financially, up from 13 per cent in January. Around a third (33 per cent) had used credit cards, compared with 22 per cent in January.