Students will benefit from nearly £600 million invested into the £2 Bus Fare Cap scheme, which was introduced by the Department for Transport and has now been extended until 31 December 2024. This scheme provides affordable transport links across England, outside of London. Transport in London is devolved to the Mayor of London and Transport for London and it is for them to make decisions on fares.
The government recognises the wider cost of living pressures that have impacted students. The department has made £276 million of Student Premium and Mental Health funding available in the 2023/24 academic year to support students who need additional help, including disadvantaged students. This funding will complement the help universities are providing through their own bursary, scholarship and hardship support schemes.
The government has continued to increase living costs support each year with a 2.8% increase for the 2023/24 academic year. The department is considering options for loans and grants for living and other costs for the 2024/25 academic year and will be making an announcement in due course.