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self-funding through uni

(14 Posts)
quartermooninatencenttown Fri 09-Mar-18 19:44:57

Anyone's DCSs self-funding? Could you share some experiences?

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BubblesBuddy Sat 10-Mar-18 00:20:31

Why would anyone do this unless they had a huge amount of money spare? Do you mean a mature student?

quartermooninatencenttown Sat 10-Mar-18 09:45:17

Sorry my fault for not being clear - I meant having loan for fees and minimum living loan but no parental contribution to top up - apologies!

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BareGrylls Sat 10-Mar-18 10:23:10

If the student is getting minimum living loan it is because their parents have income over about £59K and their parents are expected to make it up to £8430.

Needmoresleep Sat 10-Mar-18 10:30:53

Presumably you approach it strategically, making sure you earn as much as you can through the summer holidays and look for a part time job which provides the most money for the fewest hours. For example give up your Saturday evening to work in a restaurant.

In London we knew a couple of nannies, one French, one from New Zealand who took children to school and picked them up after, in return for board and money. Both were fab and motivated. The New Zealander stayed with the same family the whole way through her UG and Masters on a demanding course. I have also known someone who lived rent free in an older persons house in return for some companionship.

It depends what you want from University and others will come on to say that the wider University experience is important. But from observation I think it can be done

quartermooninatencenttown Sat 10-Mar-18 10:32:03

I understand that. I am interested to hear from parents whose children are working to fund themselves- with savings from work done before uni and who work in the holidays and / or in term.

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quartermooninatencenttown Sat 10-Mar-18 10:33:30

Sorry- reply was to BareGrylls

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Needmoresleep Sat 10-Mar-18 10:37:24

Also self-catering, cooking from scratch and making packed lunches saves a lot. If you limit yourself to one big night out a week or get a weekend bar job, pre-load on drinks, or get a bike, you should be able to live on less than £75 a week.

Take aways, taxis, drugs and clubbing seem to be what do student budgets in.

Justoneme Sat 10-Mar-18 10:38:51

When I went to university I self funded .... had two jobs. I will not be funding DC - that's why our children are called the generation snowflake!

quartermooninatencenttown Sat 10-Mar-18 11:14:44

Needmoresleep Yep do agree about the uni experience though from observation this year the lifestyle can be quite hard to deal with initially if you don’t drink a lot! Have seen DD mature greatly and start to manage money- she does go out but has time to work and I think values the experience because she is working to fund it. Not a decision we made lightly but it is working out with some interesting and unexpected results!

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BareGrylls Sat 10-Mar-18 11:15:51

We are on a relatively low income so DS gets about £6000 maintenance loan. This just covers his halls rent. We make it up to the max loan. This doesn't fund a lavish lifestyle, he walks everywhere, cooks cheaply and doesn't have expensive interests.He certainly manages on well below £75 a week but that is after rent.

He is doing a full time course with labs, lectures, workshops and placements which would leave no time for work during term time. He works in the summer holidays.

S0upertrooper Sat 10-Mar-18 11:24:40

Our son is studying architecture, long hours and 7 years. He works in the summer but genuinely has no time to work term time. We support him with a monthly allowance, was £500pcm to top up rent and god etc. He took max loan of £9k for fees and £3k for maintenance in first 4 years. Now his part 2 is abroad he gets no loan so we pay fees of £6kpa and £1k pm for rent and food etc. He is working his butt off and we are very proud of him, we have made massive sacrifices, moved Home, re mortgaged, sold a car etc to support him. However, we are looking forward to him graduating. When I was at uni I had 2 jobs but I had loads of free time, just depends on your course I guess.

Needmoresleep Sat 10-Mar-18 11:52:23

quartermooninatencenttown, DD essentially self-funded during her gap year, ski-season and Camp America. Often hard work for little more than pocket money and great fun. It did have the advantage of both teaching her "the value of money" and meant she had been away from home with others her age, before starting University, so was already used to balancing work and play. (She claims the ski-season was Geordie Slopes.)

I would agree with BareGrylls' £75pw after rent for self catering. Mine coud have dipped into accumulated Grandparent Christmas money but did not need to. DD needed a bit more in her first term for sports subs and kit (bloody blazer), freshers and "initiations", but has spent less in her second term. I am assuming that the third term will be pretty exam focussed. If nothing else DD is motivated not to have to prepare for resits over the summer.

Its fine. DD is as happy hanging out with others who are similarly frugal. I remember from my own student days, that there is plenty going on that does not require spending lots of money. She would not want to be the one with the new BMW anyway.

quartermooninatencenttown Sat 10-Mar-18 12:56:06

Thanks all - just interested in other people's experiences. Not a judgement on what others do at all! From a professional point of view I would say that we did expect all our students to study full-time; arts graduates have fewer contact hours and therefore a greater flexibility as to when they do the work. I don't know how much DD manages on a week - from the conversation this morning next week will be more frugal than this one!

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