A quarter of all students see income decrease due to COVID-19
The National Housing Research in the Netherlands concluded that 23% of all students have seen a reduction in income as a result of COVID-19. Moreover, 18% of students express that they no longer have any income from their part time jobs. It appears that in particular, younger students suffer disproportionately as a result of COVID-19.
While students are spending less money due to the lack of in-person activities on offer, having a significant reduction in income does take its toll on students. Students living away from home have on average €500 of monthly living expenses to cover, excluding groceries and discretionary spending. As a result, more and more students are having to increase the amount of loans they take out to cover these expenses. A well-paying part time job seems now more crucial than ever.
The search for a part time job
Many industries have suffered as a consequence of the COVID-19 outbreak. The catering and entertainment industries have been hit hard. These are industries where students often find a part time job. Flexible employees, mostly students, are often the ones who are let go first when company revenue decreases because of COVID-19 and have trouble financially. This has resulted in 23% of all students having reduced incomes and 18% of students having no income at all from part time jobs.
In these times it is a huge challenge for students to find a new part time job. The hospitality industry for instance, has suffered greatly and as a results has less and less vacancies to fill. For students, especially younger students, it is difficult to find anything using their limited personal network. Right now, they can use all the help they can get, including the help from their educational institution.
How educational institutions can help
Even before the COVID-19 outbreak, StuComm was well aware of the need of students to be supported in their search for a part time job. In addition, students require assistance in their search for placements, internships and graduate jobs. That is the reason StuComm developed the Talent Feature, which is available for free for all educational institutions, as part of the StuCommApp.
“We do everything to help students succeed during their studies. A part time job is an important part of this”, claims Ronald Kouvelt, founder and CEO of StuComm. “A part time job helps students finance their studies and limits the loans they have to take. When the financial situation is tough, students experience stress which directly influences their results. That is something we want to prevent.”
“With the Talent Feature, students have access to thousands of vacancies aimed directly at them, through the official branded app of their institution. These range from part time jobs and to even graduate jobs which students so desperately need. Students are also able to search for placements and internships. Additionally, the institution can add vacancies they have through the career office, to give students as many options as possible”, says Ronald.
The Talent Feature is available for free for every educational institution, to immediately help students find a well paying part time job, a valuable placement/internship or an ambitious graduate job. Want to learn more? Contact us!