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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To ask what your provision is for your DC uni?

158 replies

Bluffyslummers · 04/08/2024 12:02

I see it a lot on here in the debates of can I afford another child, especially after 2 children.

No one of course knows if their child will go to university or what university tuition or funding will look like, but if your saving for your children later in life, what does that look like?

for instance for us, we have 2 children. When my eldest was 4 we opened stocks and shares ISAs with a lump sum and we put in £70 a month each. We’ve started claim child benefit too, so now pay in child benefit (minus what we have to pay back- roughly estimated of course).

if you’re comfortable sharing, I’d be interested to know what you’re saving for your DC?

OP posts:
ComtesseDeSpair · 04/08/2024 12:18

Ultimately it depends what you’re aiming to provide for. If you’re hoping to be able to spare them any student loans then, assuming fees remain as they are now, you’ll need at in excess of £100,000 for two sets of fees and accommodations for three year degrees, more if they choose to study for longer. £70 a month isn’t going to cut it even in stocks which perform well. On the other hand if you’re just hoping to be able to contribute towards their living expenses, it’s a good place to start.

Playonplayoff · 04/08/2024 12:17

I'm aiming for £5k per year per child for uni as dedicated savings, but this is in addition to a decent emergency fund and retirement investments.

I'm also factoring in what we already spend on clubs, hobbies, clothes etc to be able to support them out of income too when the time comes

We won't be paying their tuition, they'll get loans for that.

And we live in a city with good university provision so we'll support them living at home if that's what they want.

I'll also encourage them to consider non degree pathways!

Original poster
Bluffyslummers · 04/08/2024 12:15

socks1107 · 04/08/2024 12:14

I didn't make any provision, as a single
Mum for many years I didn't have the means too.
Both daughters have gone to uni, both lived at home, have part time jobs and the minimum loan to support with travel. They are doing great without thousands from me

To me living at home is just the best solution. It’s really common in other parts of the world like France and Australia

OP posts:
socks1107 · 04/08/2024 12:14

I didn't make any provision, as a single
Mum for many years I didn't have the means too.
Both daughters have gone to uni, both lived at home, have part time jobs and the minimum loan to support with travel. They are doing great without thousands from me

Original poster
Bluffyslummers · 04/08/2024 12:10

myslippersarepink · 04/08/2024 12:06

What's the point of this thread? It doesn't educate or enlighten anyone. Like the numerous ones before it , it will show that those who have spare money and value education will save, those who don't have spare money are not able to. The former will feel virtuous or lucky and the latter will feel disappointed with themselves and what they can offer their kids.

Because tbh from MN, I don’t think my provision is ‘enough’.

perhaps someone more in the know than myself might have some tips for me? Maybe another stocks and shares isa that’s performed really well for them, I don’t know

OP posts:
Original poster
Bluffyslummers · 04/08/2024 12:09

Almostwelsh · 04/08/2024 12:08

Nothing. But as I live in Wales it's less of a problem than if I lived in England. Not all of my kids will go to University anyway.

What’s the difference in wales? I used to live there, and tbh I regret moving back to England

OP posts:
Almostwelsh · 04/08/2024 12:08

Nothing. But as I live in Wales it's less of a problem than if I lived in England. Not all of my kids will go to University anyway.

myslippersarepink · 04/08/2024 12:06

What's the point of this thread? It doesn't educate or enlighten anyone. Like the numerous ones before it , it will show that those who have spare money and value education will save, those who don't have spare money are not able to. The former will feel virtuous or lucky and the latter will feel disappointed with themselves and what they can offer their kids.