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Financial difficulties are associated with poor student mental health, although the 2012 tuition fees increase for British students had little impact on student mental health in the first two years at university. This study aims to examine the mental health of British graduates before and after this fees increase to determine the impact on mental health several years after graduation.

This study conducted an online cohort study with 327 British students who started university before and after the 2012 fees increase. Participants completed measures of current economic hardship and symptoms of depression, anxiety, stress, general mental health and suicidality. Multiple regression was used to examine the impact of cohort (pre- and post-2012 fees increase), tuition fees amount and economic hardship on mental health.

Greater economic hardship was positively correlated with all mental health variables. Starting university after the fees increased and/or paying greater fees was associated with increased depression, anxiety, stress and suicidality, with little impact on general mental health. When economic hardship was covaried, the strength of cohort effects reduced but remained significant.

To the best of the authors’ knowledge, this is the first study to show that the 2012 tuition fees increase for British students increased depression, anxiety, stress and suicidality in graduates many years after graduation, owing to additional financial strain.