Whilst I agree with your post and other posts expressing similar views I think the situation is far more complex than the answers given so far.
True some people are irresponsible when it comes to spending but there are many others who have genuine problems, you will remember all the issues around universal credit and the length of time some people went without any payments for weeks.
Some university students have been so poor after paying their rent and other expenses they have resorted to things that would get censored on this forum......how desperate is that ?....I doubt they would do that to buy the latest pair of trainers.
So desperate to stay at University that some would for example turn to prostitution or porn?
Getting a degree should never be worth that. More to it methinks.