May 18, 2026
New report outlines plan to address student financial hardship
UOW-led study highlights financial pressures and practical steps to improve support and make higher education more inclusive
Researchers from the University of Wollongong (UOW) have led a national study examining the financial challenges facing university students across Australia and outlining practical steps to build a more financially inclusive higher education system.
The findings are detailed in a new report, Towards a Financially Inclusive Higher Education System, funded by the Australian Centre for Student Equity and Success (ACSES). The report offers a comprehensive set of recommendations for stakeholders including government, universities, student support offices and industry partners. These range from expanding financial aid programs and improving student housing affordability to enhancing financial literacy support and simplifying aid application processes.
“Creating a financially inclusive higher education system requires a multi-faceted approach that addresses immediate pressures while tackling longer-term structural barriers. Our recommendations outline practical steps institutions and policymakers can take to better support students,” said Dr Anne-Therese McMahon, UOW Honorary Senior Fellow and research team leader.
The research team conducted desktop audits, literature reviews, nationwide surveys and in-depth interviews with university students and staff. The report highlights widespread financial stress among students, with implications for academic performance, wellbeing and participation in higher education, underscoring the scale of financial pressures that many students face.
Without the right support, financial hardship can interrupt study and limit the number of students who complete their degrees. Over time, this can weaken the future workforce by reducing the number of talented graduates entering essential professions such as nursing, teaching, medicine, health, and engineering. It also means students from low socioeconomic or underrepresented backgrounds may have less opportunity to succeed, limiting the diversity of voices and experience choosing these career paths.
“We found that many students are struggling to meet basic needs, with some experiencing food insecurity and housing challenges. Students are often forced to work long hours to make ends meet, which in turn affects their ability to attend classes and complete assignments. It's a vicious cycle that can derail their educational journey," said Dr Katherine Kent, public health nutritionist in UOW’s School of Medical, Indigenous and Health Sciences.
Key recommendations include reducing placement-related financial strain for students in professional courses, , developing institutional financial inclusion strategies, increasing on-campus employment opportunities and strengthening mental health support for financially stressed students.
“This report is a timely reminder that financial hardship remains a significant barrier to student success in Australia. It offers actionable solutions grounded in research and lived experience, providing a practical roadmap for institutions and policymakers to work together to remove those barriers,” said Professor Shamit Saggar, ACSES Executive Director.
More information
The full report Towards a Financially Inclusive Higher Education System is now available through the Australian Centre for Student Equity and Success: https://www.acses.edu.au/publication/towards-a-financially-inclusive-higher-education-system/
The Project Investigators are Dr Anne-Therese McMahon, Professor Karen Charlton, Professor Kelly Lambert, Professor Yasmine Probst, Dr Katherine Kent, Professor Karen Walton, Dr Joanna Russell, Dr Kylie Austin and Dr Gabrielle O’Flynn.
About ACSES
The Australian Centre for Student Equity and Success, based at Curtin University, leads national research and policy initiatives to improve access to and success in higher education for under-represented and disadvantaged students.