To ask what your provision is for your DC uni?

We have just decided to stop DCs student loan. The interest is phenomenal now. We will pay from our savings and they will pay us back the tuition element so that they don’t have the interest to worry about.

its cheaper than school fees for us and we are used to paying those.

I would echo a pp above. Dc has tried really hard this summer to find work. Nothing available. The zero hours gig economy means that it’s much harder for students to get work.

I didn't save anything for ds for uni because he'd take loans for it and get a job and we'd just top up a little if needed, we saved for a house deposit instead (about 25k total). Then DS got a degree apprenticeship which is a fantastic opportunity for him that I'd definitely recommend.

We started putting money into stocks every money from birth. That continues to this day. But now that we are less than 4 years away, we are putting large sums into a high interest savings account because we don’t want to take the risk of loss without time to recover.

The system is based on parents making it up to the maximum loan level

Back when?
How old are you assuming I am, out of curiosity?

my children have the fees and loan. I have no intention whatsoever of funding these despite being a high income household. The debt doesn’t bother any of us as we see it as an investment and a tax

however, on top of that I pay accommodation costs and they live off their loan. I budget 8k Pa for this per child and can manage it from income

My DS does 24 hours a week at 12.50 . Plus more in holidays. He has 12 hours contact time at uni. But that job comes to well over £500 a month

I have twins so it’s unlikely we’ll be able to put them through uni at the same time unless we do some dedicated pre-saving. We have child ISAs with a lump sum then a small monthly saving each.

I plan to tell them both when the time comes that if they want to attend uni then they will have to use that money. The money automatically transfers to them at 18, so it will be their decision (whether I like it or not!). But if the cost is similar to now or worse when they reach uni age, then to use their ISAs will be there only choice. Unless our financial situation improves of course.

We don’t mind helping with uni, property deposits or childcare costs, but I draw the line at contributing to weddings.

Most people don’t save as they can’t spare the money.
Most students work whilst at uni, some take a gap year first to work and save up. Plenty live at home and commute too x

I went to uni with nothing from my parents, they simply didn’t have it. I worked weekends in a shop to fund my lifestyle and get spending money, but otherwise just had student loans/grants etc. I now owe thousands back but it’s fine, it just goes out of my wage slip automatically and I don’t think about it. And that’s with £0 from parents, so it is doable.

Nothing specific. I save what I can, but don’t scrimp to save “for uni” or for a house deposit or whatever.

it may be I need that money for some reason. Even if it’s a holiday for us all. I’m sure they’d rather have that experience than 5k off their uni loans.

if I have money left when they go to uni then great. If I don’t they can get loans like everyone else.

Unfortunately we weren’t in a position to save for uni. Eldest DC starts Sept and is going to a local uni so will live at home and will continue with his part time job. He’s got a student loan but we will support him. My younger DC will probably do the same

I am not prepared to go in to,actual figures but he will have money from us. But more than that he was encouraged to have a good work ethic and started off with a paper round at 13 by 19 he was on his third job. When he applied for a degree apprenticeship which is more competitive and much harder work than the traditional degree route he had all that work experience. He is now on 29k in year two with a guaranteed job and all tuition fees paid for. He has no idea we have some money for him. I have found some people who know their parents will assist can become a bit complacent.

We are careful but forgoing a small birthday party just sounds bloody miserable.

We knew from Year8 at school that our 2 would probably be looking at uni. They qualified for the minimum maintenance loan, so we planned to make it up to the full amount.

But... one lived in a much more expensive place to find rentals than the other. So we paid both their rent and they used their loan for living on.

We saved £400 a month from Y8 onwards. They have just finished. It provided enough and a bit to pay deposits and start up cost when they move out.
We now feel rich... and might even have a decent holiday next year.

That’s fantastic. My younger son is off to Uni this year. He’s seen his brother love it so there’s a lot to live up to. He’s doing a much harder course though and suffered from a bad depression a couple of years ago, so I’m really keeping my fingers crossed it doesn’t disappoint. He’ll be several hours away but knows he can access therapy if he needs it.

"You need to be prepared to contribute the means tested bit if they don't qualify for it. That's not a huge amount though."

I actually disagree with @SaltAndVinegar2

Even finding the difference in minimum versus maximum, £4,651 v £9,978 = £5,327. Divided by say 10 months most are actually at uni, sept to May = 10 months, = £533 a month. Thats the minimum. To me that's quite a lot for some parents to suddenly 'find'. "Not a huge amount"? Finding £500 a month for some is quite a lot.

In NI uni fees are about 3.5k. I have one dc and dh and I both save into an ISA for her every month. There's about 17k in there. I also save maximum into a LISA for myself (£350 per month). Can only pay in for 8 more years (when I'm 50) so dc can have that money if they need it which will coincide with year 2 of uni (if they go).

All three of mine have gained so much confidence by going away to Uni. My eldest had a great time, gained loads of experience from voluntary work ( through Uni ) and opportunities which helped him get a job after graduating etc. My dd has just done a foundation degree ( I know yet another UNI year added ) but she has had an absolute ball. Little over a year ago she was a depressed and anxious teen who had just made a mess of some of her A'levels and lost all confidence. one year of Uni she has made so many friends, found the confidence to do Camp America this summer and travelling round the US soon with new friends she has made there. She is unrecognizable from a year ago.

Sorry I actually have no idea, we saved to pay it back but then that didn't happen and they just adjusted my husband's tax code to take it back.

This is what I feel and have seen from my eldest son’s experience living away. He has blossomed so much in the three years he lived away at uni. On top of getting his degree he’s had an absolute ball (and I didn’t have to worry where he was or what he was up to 😁).