Breaking Property News 28/08/24
Daily bite-sized proptech and property news in partnership with Proptech-X.
Is it right to offer cash prizes and free accommodation to students who apply through clearing?
Co-founder of Roome – Owen Redman (pictured) in the wake of the current squeeze on finances, both for students and Universities has spoken out on what he sees as exploitation of undergraduates, commenting that,
‘In a desperate attempt to fill course places and attract more students, several universities have begun offering students to be entered into draws for free accommodation and cash prizes to students who apply through clearing.
For example, the University of Gloucestershire and their prize draw for free accommodation for students registering for their “clearing VIP” mailing list. And St Mary’s University, Twickenham, promising a guaranteed place in university accommodation for those that apply before 22nd August – could this cause a rush of students that creates an accommodation deficit?
It seems Universities are doing everything they can to ‘lock down students into places’, as they need more students to avoid a further financial pressure!’
Other universities have used similar marketing techniques to attract all students, not just those coming through clearing. Among these, Nottingham Trent University offered a £250 Amazon voucher for any new students signing up to selected accommodation.
The union links such offers to the wider university funding crisis which has led to suggestions that some universities could fail financially.
“The over-reliance on tuition fee income is causing huge financial instability across the sector,” said Ms Grady. She wants the government “to provide emergency funding to protect all jobs, courses and institutions at risk and end the failed marketized higher education experiment.”
This is just not right? Students need a better deal
Owen Redman whose company Roome looks after the interests of students and housing, goes further with his analysis,
‘Students shouldn’t be deciding on their University down to cash or accommodation rewards, it should be down to the right course and university for them.
Not only now could this cause a further imbalance by students trading up, or going for courses and universities with the best offers, which may result in capacities being filled and students losing out on their initial offer they would have rejected to go through clearing.
But it also sets a bad precedent for students in the following years, why as a student would you be incentivised to apply in the traditional format, have a firm and second choice, when most universities will have clearing spaces and offer benefits if you go through clearing instead?
This could end up resulting in more clearing students year on year, putting far more pressure on university staff and accommodation teams to ensure students accepted in clearing will have a place to stay.’
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
You May Also Enjoy
Homebuyers can save up to 47% by looking next door to the UK’s priciest postcodes
Your First-Time Buyer Mortgage Journey
London property values set to fall
London property values set to fall
Second-steppers turn to higher LTV mortgages as deposits fall