Predictors and impacts of financial insecurity among university students: associations with food insecurity, well-being, and academic outcomes in a national cross-sectional survey

Abstract

Financial insecurity is a significant challenge for university students, affecting both wellbeing and study participation. Guided by a socio-ecological perspective, this study examines financial insecurity among university students as a multi-level issue shaped by individual, institutional, and broader structural conditions. A cross-sectional survey examined the prevalence of financial insecurity among Australian university students and its associations with demographic characteristics, health, academic outcomes, and awareness of support services. An online survey was distributed via universities and national student networks (September–October 2024). Financial status was self-reported as adequate (‘comfortable’/‘just getting by’) or inadequate (‘struggling’/‘severely struggling’). Descriptive statistics, logistic regression, and content analysis were used to analyse quantitative and qualitative data. Of 838 respondents (61% female, 64% domestic), 32% reported inadequate financial status. Independent predictors included international student status, Indigenous identity, disability, and living alone. Financial insecurity was associated with higher odds of perceived poor academic outcomes (OR = 5.5, 95%CI: 3.9–7.6), poor-fair self-rated health (OR = 3.0, 95%CI: 2.4–4.1), and food insecurity (OR = 8.4, 95%CI: 5.7–12.4). Awareness of financial support services was low, with dissatisfaction more common among financially insecure students (OR = 2.1, 95%CI: 1.9–4.1). Findings inform a series of recommendations for universities and policymakers to strengthen student support and address systemic drivers of financial insecurity.