Loneliness is a subjective feeling of isolation or lack of companionship that is distinct from anxiety and depression. Loneliness is a significant problem for students that not only affects their wellbeing but also their ability to learn at university. Using a pre-registered protocol, this study investigated the effectiveness of a peer support intervention to ease the transition of first-year students to university life and reduce loneliness. First-year Psychology students were randomly allocated to the peer support intervention (n=20) or a no-intervention control group (n=32). Self-ratings of loneliness and wellbeing were obtained at baseline and 6 months later using the UCLA Loneliness Scale Version 3 and the General Population -- Clinical Outcomes in Routine Evaluation (GP-CORE) questionnaires respectively. Despite high initial levels of loneliness, both the intervention and control groups exhibited a significant reduction over time, possibly reflecting the students' adaptability to new social settings. However, wellbeing concerns remained persistent, highlighting that loneliness and wellbeing may require distinct approaches. The peer support intervention did not produce significant improvements, calling for more structured and effective strategies. The study also faced limitations due to low participant engagement, suggesting the need for additional motivational factors to enhance uptake of the peer support intervention.