Education Minister Jeremy Miles has announced funding for university mental health and well-being services.
The funding will help address cost of living crisis facing learners and students of all ages. It will improve and promote money advice services in higher education, including for those moving from college or school to higher education.
It will also help support students facing financial pressures by extending hardship funding.
The funding has been provided to the Higher Education Funding Council for Wales (HEFCW) and aims to benefit university students and those moving into higher education.
HEFCW will be asking universities and colleges to work with students' unions to make sure the funding makes the best possible impact on the lives of students.
Jeremy Miles, the Minister for Education and Welsh Language said:
The move from college or school to university can be a tough time for your mental health and well-being, as well as the ongoing cost-of-living crisis and the lasting effects of the pandemic. I'm pleased we're able to provide more support this financial year so students can get financial help and maintain their well-being.
The Deputy Minister for Mental Health and Well-being, Lynne Neagle, said:
Mental health and well-being services are a vital way to support students, especially when they face big changes like leaving home for the first time. I'm pleased we've been able to invest in this support and extend hardship funding to help ease the financial pressures on students too.
NUS Wales President, Orla Tarn, said:
This investment recognises the significant impact the cost-of-living crisis is having on students' mental health. The focus on boosting financial support services and making additional hardship funding available is welcome and necessary given the significant strain on university students' pockets right now. Continued partnership working with students' unions, who are delivering vital support for their students during this crisis, will help ensure the impact of this funding is maximised.