To get increasingly annoyed at the mention of 'Uni funds' on here?(131 Posts)
Not a thread about a thread as such but I've seen it mentioned several times on here recently, in an "Everybody must start a uni fund for their child or they're a terrible parent" way. Firstly, not everyone's children want to or have the ability to got Uni. Secondly, many people don't have any spare money at the end of each month and can barely cover bills, let alone save towards a Uni fund. Also, it's perfectly possible for a child to fund his/herself through Uni, as my friend's 3 teenage children are currently doing. There is no need for Mummy and Daddy to have a Uni fund.
And the phrase makes my teeth itch!
So is the phrase that's worse than the idea behind it?
Up until now it's not hit me as a phrase many use. But I am aware of the idea that parents save money towards possible future university fees and costs.
We have a savings account that we have decided is to pay towards the children's university costs should they decide to go. If they don't, we will have more cash in our retirement.
The important thing is that we don't use this money to buy anything else as if and when they go we will not have the spare cash to help them with costs.
Some people have a nicer car or house than us, that is their choice. Others can't afford a nice car, house or to save towards a university fund.
I am very cross that it now is so expensive to attend uni not everyone who would benefit from this level of education has access.
This is what we should be annoyed about, not if some people have a savings account and some don't
Don't get me wrong. I will be contributing to my children's uni expenses if they decide they would like to go to University. And I save for this.
I just don't feel the need to talk about a Uni fund
Hopeforever, I have already stated that it's the phrase and the general attitude about Uni Funds that I find annoying, rather than the actual fact that there is a savings account
When you look at it the expected contribution is quite high...I'm a couple of years out of date now, but I think it was about £3500 was the maximum loan if you were in the top earning bracket.
We were told the government expect a year at university to cost £5500-6000 (if you look at the scale between loan, grant and rough parental input) so there's quite a big gap there.
But yes, 'uni fund' is an annoying term so YANBU at all there!
So you do have a uni fund, you just don't call it that and you don't want to talk about it, except when you start a thread to tell us about it
BirdsGottaFly I am most disappointed with your typo. I got all excited that a MN area existed and I could go and live there.
No I don't call it that as I won't be forcing my children into going to University. We save a fairly large sum each month anyway so what it goes on is neither here nor there tbh.
"It's just such a first-world, middle-class phrase."
OMG - imagine! Middle class people in the first world using phrases, the utter bastards.
How are things in the 3rd world OP?
This seems a surprising thing for someone so worried about self-indulgent wank to be posting about.
AThingInYourLife oh do get over it. I do think it's a crap phrase, and yes it is all a pile of self indulgent middle class wank, a way of people letting others know that their children will be going to Uni
I don't tell them I'm saving for them. The big ones know they'll be supported financially if they go to uni versity, but I'm not telling them there's a lump sum there for them. I can't think of a worse idea than them thinking there's 'free' cash when they hit 18 or 21. DH and I will choose how to use it so that they each get appropriate support for what they want to do with their lives. I'm not funding 12 months
drinking post sixth form.
'self indulgent middle class wank, a way of people letting others know that their children will be going to Uni'
They don't need a way of letting people know that! University isn't considered a big deal in that social group, it's standard - the norm.
No problem with the concept but the word uni makes me feels cross, no idea why!
Me too QueefLatina. Reminds me of the old Scott and Charlene days in Neighbours
Yabu to call it a UNI fund. UNI what? Unicycle fund? Uniform fund? Unibrow fund? Yes. It's UNIVERSITY. There's nothing wrong with having one. Everyone should aim to send their children to university.
I think yabu. Although I don't like the word 'uni' either.
But this is something that people genuinely worry about at the moment. Those parents who genuinely can't save anything will be fine because their dc will get bursaries if they want to study, the rich will be able to afford it anyway, and the rest of us in the middle are just concerned that if we don't start saving then our children will either have to sacrifice further education or start their adult lives with a ridiculous amount of debt.
If this website is meant to be about supporting each other with parenting stuff, then I think university funding is something that is more than worthy of some thread time.
I get where ypu're coming from Op. I find myself getting wound up on threads where someone is saying that they're struggling with a newborn or finding it hard to manage work and a baby and a dozen people say'get a cleaner'. Presumably if they could afford one they would have one?
Don't have a problem with anyone having a cleaner or a uni fund, just yhey're Assumption that everyone else should have one.
'Uni' is not a word. Let's use 'university' in future because that's what it is.
I don't like 'invite', quote', advert' to be used as nouns either.
What happened to 'invitation', quotation' and 'advertisement'? If people offer me a quote, I say, "No, I'd prefer to have a quotation." Younger people don't even know that they are short versions of the correct words. <returns to Pedants' Corner>
And I don't like 'Brit'. I'm a Briton or Englishwoman.
The government assume a level of parental contribution and you can't just borrow what you need, borrowing is capped so if you can afford to put something away its a good idea but if you can't you can't.
We're putting money to one side but don't call it a uni fund and dd won't be told about it so no pressure (or thinking the money is her's to do as she pleases with if she doesn't go - ha!)
I think its a bit flippant to say "they'll just have to get a job whilst a student" when there are so many people trying to get jobs without having to fit them around non-flexible lectures. And even in the good times not all universities are in places with a lot of jobs available, bangor, sunderland, lampeter, etc.
Obviously we all priorities money and if there's none left at the end of the month you shouldn't scrimp for a savings pot but seems an odd thing to give a toss about anyone else doing.
The phrase is a bit annoying. But we have a 'uni fund' for DS and DSD (well, a college fund, as we're in America). I'm not trying to be smug, but we have a reasonable lifestyle and I would find it hard to justify to DSD in a few years why we couldn't send her to college when she can clearly see that we have spent money on other non-essential things. Having said that, if we were skint, I wouldn't feel at all bad about not being able to help her, if she could clearly see that we had struggled. If she wanted to go on to college that badly she would fund herself somehow, with or without our help.
FromEsme Wed 03-Oct-12 15:16:08
I reckon that once you leave home, you should be on your own. I work in education and I can see a direct link between those who are funded by their parents and spoilt, needy behaviour. I'd rather any children of mine grew up to be independent, rather than relying on me for everything.
That's a little harsh ESME, as student loans are based on parental income. My 2 DS who are at uni receive only minimum maintainence loan... the princely sum of £940per year. We are legally responsible for funding them until they reach age 21, unless they "divorce" us, at which point they would get the full loan entitlement. This is Scottish student loan rules, but similar rules in England.
If parental (household) income is above c.£35k, mimimum loan only.
Lower income parents DC get loans, may get grants and additional bursary, so yes, these kids can support themselves without parental help... fairly modest 2 income families can easily find they HAVE to fund the DC through uni at a cost of thousands of pounds a year, as there is no funding available.
£6k a year we are paying to each child - they are not spoil, most of the cash goes on student halls. One is at a uni which does not allow students to work during term time and the other is looking for a job but it's a very tough to get anything where he is.
Without our parental input, they wouldn't BE at university... that has nothing to do with "spoiling" them, we are enabling them to get on a career path. Would you really cut your children off financially the second they leave school?
Yep, the idea that people who earn enough so their DCs won't be able to borrow the money to go to uni (before you've even thought about if you're happy for them to run up those sorts of debts) should start saving, even if it's just a little each month towards the costs.
If you are a higher earner so your DCs won't be able to borrow the funds they need, you need to take a good look at your spending habits if you dno't have anything at the end of the month to save.
If you're earning a smaller wage, then your DCs will be able to access the money they need to go to uni another way.
the DCs who are completely screwed are those from wealthy parents who choose not to give them any money - they can't borrow it, and in student towns it's incredibly hard to get a job that fits round lectures.
It's much more common in America to work while studying but the system has grown up with that in mind, there are more jobs for students in universities, more appreciation by universities of the need to work while studying and they are far, far more richly endowed hence more scholarships.
Sadly life is unfair and some people will be able to afford a fund and some won't. I do remember asking one of the students just before graduation what he was doing, he was off to work in the city and his Dad had bought him a flat in the Docklands.
The job may very well have been through contacts, now who wouldn't use a contact to gain advantage but that is something that is in a way even harder than a lack of funds.
I too hate the expression 'uni' - never used it in my day .
We save for our DS's future (we've even got a pension fund for him that he can't access until he's 55 ). I know my parents also put money aside for their grandchildren. We don't talk about it though - however on the Christmas thread lots of people are commenting that they would spend £200/£300 on their chidrens' presents - I would never do that but would happily put money on one side to be saved. I never understand the mumsnet logic, its OK to buy a 3 year old an ipad but not save for the future .
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