Exorbitant rent costs impose a strain on students.

Struggling with sky-high housing expenses is a common issue among students and apprentices, with a whopping 61% feeling the strain. According to the Federal Statistical Office, these scholar-types often dedicate around 54% of their income to housing, which is significantly higher than the average 25% for the general population.

After crunching some numbers, it was found that students earning their own keep had an average net income of 867 euros in the previous year, with 41% coming from their personal earnings. Parental financial aid and state aid accounted for the remaining 32% and 15%, respectively.

In about 41% of cases, family support was the primary income source for these students. Surprisingly, more than a third (36%) relied on their own earnings for income. On the other hand, apprentices were more independent, with 91% hinging solely on their professional wages. Their average net income was 1,240 euros.

Despite the numerous financial hurdles, some students manage to make ends meet. Family support proves to be a lifeline for many, providing about 41% of their income.

In a different corner of the financial hardship forest, apprentices find solace in their full-time jobs. Approximately 91% of them depend solely on their wages, revealing their resilience and self-reliance.

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To combat the high housing costs impacting a significant chunk of students and apprentices, governments and universities can implement several tactical approaches:

1. Public-Private Partnerships: Universities can engage in public-private partnerships to finance additional housing options. This collaborative model, already used by universities like McMaster and the University of British Columbia, provides flexible and sustainable solutions to student housing needs.
2. Subsidies and Financial Aid: Universities can offer implicit subsidies, such as stable on-campus rents, that protect students from market volatility. In high-cost markets, private student housing rates can be significantly higher than on-campus rates.
3. Affordable Housing Initiatives: Governments can advocate for policies to ensure affordable housing options for students. This can include subsidized meal programs, low-cost housing initiatives, and access to on-campus hygiene facilities.
4. Shared Housing Options: Students can consider shared housing and off-campus apartments, which can significantly reduce individual financial burdens. Shared housing costs typically range from $400 to $800 per month, with roommates splitting rent and utility expenses.
5. Location-Specific Solutions: Students can choose housing locations strategically, opting for areas farther from campus with lower rental rates. Public transportation or biking can provide low-cost commuting options, making this tradeoff practical.
6. Institutional Support: Universities can offer scholarships that adapt with inflation and cover all direct and indirect costs of studying. This ensures students are not dependent on their parents' income, relieving financial stress.
7. Regulatory Measures: Governments can advocate for policies that ensure fair compensation for student labor, including minimum wage regulations and basic labor rights standards. This enhances financial stability for students by ensuring their labor is paid fairly.
8. Infrastructure Investments: Governments and universities can invest in student housing and essential infrastructure, such as building land. Housing policies should be student-friendly to address the structural discrimination and dismissal faced by international students.

Implementing these strategies can significantly alleviate the financial pressure on students and apprentices, allowing them to focus on their education without the added stress of high housing costs.