Monthly student loan payments could replace the current three termly instalments under a proposal backed by Bournemouth East MP Tom Hayes.
The Labour MP says students studying at Bournemouth’s three universities are finding it increasingly difficult to stretch large lump sums across several months, particularly as rent, travel and everyday living costs continue to rise locally and nationally.
Mr Hayes said students had described running out of money before the next payment arrives, adding: “Could you imagine getting your salary three times a year, getting four months at a time, and having to make it last? Even the best budgeter struggles.”
The proposal has been brought forward by York MP Luke Charters and would change the way maintenance loans are paid, allowing students to receive their funding in regular monthly amounts rather than infrequent blocks.
It would also introduce an earlier first payment before term begins, which supporters say would help students cover upfront costs such as rent deposits, books and travel before arriving at university.
The National Union of Students has backed the bill, saying the change would better reflect how people manage money in everyday working life.
Mr Hayes said the move would give students more stability and predictability, reducing reliance on overdrafts and credit cards when funds run low during term time.
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