This year, student loans are set to run dry in July – and it’s not just students feeling the pinch. Summer is supposed to be the season of freedom – festivals, beach days, and last-minute holidays. But for many in Gen Z, particularly university students, July marks something else: the moment money runs out.
With the final university Maintenance Loan instalment landing in early April, and no further support until October – thousands of students are expected to feel the pinch this summer.
In fact, according to the latest figures, the average student receives just £600 a month in student loan support – but expects to spend around £1,100 on essentials including rent, bills and groceries1. Based on those figures, the global student housing brand and operator Yugo has calculated that most students will be out of funds by 9 July, leaving a whopping 84 days left to survive without financial support.
And, the nerves are already kicking in. Google searches for terms like ‘university student summer jobs’ have surged over 5,000% in the last month, with many students scrambling to plug the three-month funding gap.
So, to help Gen Z navigate this cash crunch, Yugo has shared its top student summer survival tips – to help students focus on fun (rather than finance) during their well-earned break…
1. Back-saving for summer
Most students budget from one week to the next, but when your final loan drops in April and needs to stretch until October, that strategy falls short. This summer, flip the script.
Instead of spending as normal and scrambling later, start back-saving. Ringfence a chunk of your student loan early on for essential summer costs like rent, food, and transport. Setting aside just £20–£30 a week during term time can build up a safety net – think of it as paying your future self first.
2. Use student discounts that actually save you money
There are student discounts – and then there are actually useful student discounts. It’s easy to forget just how many essentials come with money off when you’re in full-time education.
Railcards knock a third off train travel, chains like Co-op and ASDA offer 10% discounts with a student card, and flights with airlines like Ryanair and EasyJet often include reduced fares during off-peak periods for student travellers.
The trick is knowing where to look – platforms like UNiDAYS, Student Beans, TOTUM, and VoucherCodes do the legwork for you, and are updated constantly with new offers across food, fashion, tech, and travel. A quick browse before you buy could shave £50–£100 off monthly outgoings, so it’s well worth a regular browse!
3. Invest in low-effort side hustles (that won’t ruin your summer)
A summer job doesn’t have to mean stacking shelves or losing entire weekends to bar shifts – there are a growing number of flexible, low-effort side hustles that slot around any plans.
This summer, find an income stream that works around your lifestyle. Think tutoring, dog sitting, or even festival volunteering. Looking for inspiration? Yugo has collated an ultimate guide to side hustles you can do without leaving your home this summer – for those who fancy maximum income with minimum effort.
4. Say yes to help – check for local and university hardship funds
Many students aren’t aware that they might be eligible for grants or emergency funds from their university or local council. These aren’t loans – they’re often one-off payments to help cover essential costs during financially difficult periods. If your bank balance is looking bleak and your budget is already stretched, it’s worth checking what support is available through your university’s student services or local authority.
5. Sell what you no longer use
You’d be surprised how much money is sitting in your wardrobe or under your bed. Old course books, last year’s festival outfit, that tablet you never use – all of it can be turned into quick cash. Platforms like Vinted, Depop, Facebook Marketplace, and even eBay are ideal for getting rid of unused stuff while giving your bank balance a small boost. Not glamorous, but genuinely effective.
Don’t let summer break your bank
Being broke by July isn’t inevitable – but without a plan, it’s the reality facing thousands of students this summer. With student loans drying up and the cost of living still climbing, it’s no surprise Gen Z are feeling the pressure.
But, with a few smart money moves – from back-saving during term time to making the most of legit student discounts and flexible side hustles – the summer squeeze doesn’t have to mean saying no to fun. After all, summer should feel like a break – not a breakdown.
For more information on Yugo, please visit here.
