Sky-high housing expenses pose a significant challenge for individuals engaged in education or learning.
High living expenses put a substantial strain on younger individuals pursuing education or vocational training. As per the Federal Statistical Office, students living independently shell out roughly 54% of their household income on housing. For trainees in a similar situation, it's around 42%, which is also above the 25% average for the entire populace. Consequently, over half (61%) of students are deemed to be burdened excessively by their housing expenses.
Generally speaking, the earnings of the young crowd aren't substantial. Among students managing their own households, the average net income last year amounted to 867 euros, of which 41% was their personal earnings. Close to 32% of this income came from private support, such as parental maintenance payments. Grants and scholarships, like BAföG benefits, accounted for about 15% of the income.
For 41% of students, their family was their main income source. More than one-third (36%) primarily relied on their own work for income.
For trainees managing their own households, however, a whopping 80% of their income comes from their own paychecks. Their average net income is 1,240 euros. For almost 91% of trainees, their own earnings make up the largest chunk of their income.
Given the high cost of living and the low income of many students and trainees, investing in comprehensive education and training becomes even more crucial. Despite facing substantial housing expenses, a majority of students and trainees acknowledge the importance of enhancing their skills and knowledge through education and training.
