One in three university students in Australia are experiencing serious financial hardship, according to research published in 2026. This finding has prompted Universities Australia, the organization representing Australian universities, to urge the federal government to introduce concession cards and additional discounts for all domestic university students. These measures would aim to ease the burden of rising living costs. Under the proposal, international students would also be eligible for public transport concessions, which are currently available to people with specific needs such as low income, disability, or pensioner status. The data highlights a significant rise in the cost of living for students. Since 2021, basic living expenses for students have increased by 29%, far outpacing the general inflation rate of 24%. Concession cards typically provide government-subsidized discounts on essentials like medicines, public transport, and utility bills, and in some cases, even car registration. However, not all domestic students qualify for these benefits. Some may be eligible through existing programs like Health Care cards, Austudy, ABSTUDY, or Youth Allowance, but enrollment in university alone does not guarantee access to these discounts. Eligibility for public transport concessions also depends on the state in which a student lives. Research published in May 2026 found that one in three university students in Australia experience serious financial hardship. A study by Lucas Walsh and colleagues, which surveyed 2,731 people aged 18–24 between 2021 and 2025, revealed that food insecurity was a widespread issue. Around one in five young Australians faced food insecurity during this period, with most being students. Many reported skipping meals and worrying about having enough food, with over 50% going an entire day without eating at times. Nearly all participants experienced financial difficulties every year, indicating a persistent and growing challenge. The Australian government has taken some steps to assist students, including forgiving $3 billion in HECS-HELP debts and increasing rent assistance in recent years. However, the Job-ready Graduates scheme, introduced in 2021, has increased the cost of law and business degrees and doubled the cost of arts degrees. These changes have made university more expensive for many students, even as they struggle with living costs. Financial stress can lead to students dropping out or delaying their studies, highlighting the urgent need for better support. As of March 2025, about 172,000 students aged 16–64 received Youth Allowance, Austudy, or ABSTUDY payments. However, only about 16% of the 1.08 million domestic students enrolled in higher education received these benefits. These payments, while offering some relief, are often below the poverty line and are subject to parental means testing. Students under 22 who are considered dependents must provide their parents' income details, which can affect their eligibility or the amount of support they receive. Some students are exempt from this testing if their guardians receive certain government allowances, but they typically need to be studying full-time to qualify for Austudy or Youth Allowance. Student unions argue that parental means testing is flawed, as it assumes that parents or guardians are financially supporting their children. Experts suggest that students whose parents earn just above the income threshold may be excluded from financial aid, making the system inconsistently targeted. While expanding concessions to university students would require additional funding, the federal government has set a goal to increase the proportion of Australians with tertiary education qualifications from 60% to 80% by 2050. This long-term vision may require addressing the daily financial challenges students face now and in the future.