In mid-August 2020, two student unions published their figures on the cost of student living in France. Unsurprisingly, the latter is expected to increase again this year, due to widespread price increases, but also the purchase of masks. Among the expenses, insurance is obviously counted. Selectra gives students some advice on how to cover themselves well, at a lower cost.
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- In short :
- This year, the start of the school year will cost students 76 euros more than in 2019, or 2,361 euros.
- Annual expenses related to student life are also on the rise, ranging between 3.69% and 5.1% compared to 2019.
- Rent is still the most important part of the student budget, and there are many costs involved, including insurance.
- For student renters, home insurance is compulsory. It will therefore be necessary to compare the offers, and pay particular attention to those of neoinsurers.
- Even if student health insurance is not compulsory, protecting one's health is important. There are solutions to take advantage of a reduced rate mutual, whether it is for parents or for your own.
Back to school 2020: student budgets impacted by Covid-19
Summer is moving on and the start of the school year is approaching. Each year, before September, figures fall, especially those concerning the annual budget of the students. It would have been surprising if the latter were spared the health and economic crisis linked to Covid-19. And everything suggests that this will directly impact their finances.
On Monday August 17, 2020, two student unions published reports and the results are undeniable: the annual student budget should increase this year. According to the annual barometer of the Fage union, the average back-to-school cost is estimated at 2,361 euros, which is 76 euros more than in 2019. How to justify such an increase? ” This jump is mainly explained by the increase in daily living costs (+ 5.1%), and the appearance of a new line in the student budget: that of the masks that will have to be worn to go to school. Classes “, Thus indicated Orlane François, president of the student union, to the newspaper The Parisian. For its calculations, Fage relied on a basic student profile: a 20-year-old non-scholarship holder, undergraduate and without double registration, no longer living in the family home.
Students are among the most precarious sections of the French population. In the past three months, 74% of 18-25 year olds told an Ipsos-Fage poll that they had experienced financial difficulties. In addition, four in ten students actively looking for a job or internship had to give up or postpone their procedures because of the period of confinement imposed. This increase is therefore naturally the subject of concern on all sides. Orlane François explains that it is certainly the ” public at the border of the thresholds for obtaining scholarships, which will suffer greatly from these increases “.
Beyond the cost of the start of the school year itself, that of student life should also increase. This is what the UNEF reports, which quantifies this increase at 3.69% compared to 2019 – the increase was then 2.83% compared to 2018. At the heart of these expenses, we obviously find the rent and charges, which take up most of the budget, but also, among other things, meals, telephone, transport, registration fees, and of course insurance.
Covid-19: Will students pay for compulsory masks?According to figures from Fage, the purchase of masks will have a very tangible cost for students. The union estimates this at 31.75 euros per month, or the equivalent of lunch at the university restaurant over two weeks. The financial impact would therefore be far from negligible.
Back to school 2020: some tips for students to choose their insurance
In their budget, students must take into account two types of essential insurance coverage: mutual health and home insurance, if they do not live in the family home. The annual cost of insurance also increases each year. So here are two tips for trying to save money without resigning yourself to good insurance, for your home and your health.
Home insurance for students: the option of neoinsurers
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Rent is the biggest financial investment for students. Leaving your parents' home very often involves becoming a tenant, in which case it is mandatory to take out home insurance. As always in insurance, the important thing is to compare offers.
A variety of levels of coverage are available, and therefore prices change depending on the guarantees of the contracts. The only obligation imposed by law for home insurance as a tenant is to cover rental risks. This is therefore an indispensable basis.
That said, taking the time to look closely at the guarantees offered in the various insurance products can be beneficial. For example, finding a cover that is slightly more expensive, but more effective in protecting against the various risks of life.
Today, neoinsurers with 100% digital offers very often offer personalized contracts, without commitment and at very competitive rates. Their products are generally more suited to the economic reality of today's youth, allowing for greater flexibility.
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At the start of the 2019 school year, the student health system changed radically, after nearly fifty years without undergoing any modification. As of September, students were no longer concerned with student mutuals to which they were previously affiliated. They are therefore no longer necessarily attached to a student mutual, but at the Primary Health Insurance Fund, ie the Health Insurance. In fact, students who wish to benefit from better health coverage must take out additional health insurance in order to complete the reimbursement basis of the Social Security. This leaves them free to compete by comparing the different offers on the health market.
The big problem with the reform – which had started to be implemented in 2018 – is that it caused a massive renunciation of students to cover themselves through complementary health insurance. According to a study published last May, only 64% of French students were covered by complementary health insurance in 2019.
Several things seemed to matter to their choice: the precariousness of many students, but also the feeling that this cover was not essential.
It is possible to cover oneself, and with the reform, the variety of complementary health insurance products for students has greatly increased. It is therefore crucial to be well informed, study the offers, and find the one with the best value for money. Including mutual health insurance in your student budget is important, because in life you never know what can happen. Note that in the event of financial difficulties, the Complémentaire Santé Solidaire can intervene and cover your health expenses. Check your eligibility! Another tip, it is possible to remain affiliated with the parents' mutual health insurance. In this case, however, you will need to be aware of the guarantees since they will be the same for all members of the family.
Covid-19: Are government measures to help students sufficient?Due to the current crisis, the government has announced various measures intended for students, in particular the freezing of university fees, as well as those of the restaurant U ticket at 3.30 euros – which will be at 1 euro for some 780,000 students. scholarship holders in France. In addition, some scholarships have been extended due to Covid-19, and special aid has been put in place for the start of the 2020 school year.