How much does it cost to support DC at university?

[planningtomakeaplan]

I've been skint for years, I don't have any savings. I've just started to earn a relatively decent wage in a job with prospects. (A very average wage compared to loads on here probably)!

For the first time, I'm able to look forward to the future and make some plans.

I expect my DC will want to go to university (they may surprise me! but let's assume for now...)

How much does it cost to support DC through university? How can I budget for this? Thanks :)

You don't have to support them at all because there are loans available and they can get a part time job.

The loan is dependent on parental income. They may only be able to borrow £4,200 which won't even cover hall rental.

Ds gets the minimum London maintenance loan, so approx £6300 I think, and he will live on that topped up with a bit of PT work. His dad sends a few quid now and then but nothing regular (hasn't since he was 13, go figure).

I pay his rent and utility bills - he's at a London uni with no halls, so is in private rent. It's costing £750 pcm already and they've just emailed to say they will be increasing the utility prices from next month. I've had to increase my hours at work to cover it.

However, when I went to university in the 90s I got a full grant and didn't have to pay tuition fees, so I don't mind subbing him if it means he can be reasonably comfortable and really enjoy the university experience. He knows he needs to get a job though!

Quietly thanking God that I only had one, though

One of the reasons I will not be moving out of London. DC interested in London universities and also will have more job opportunities both during and after uni. They each have their own bedrooms to use until they can afford to move out.

but I don't want them to have the worry of finances whilst they are studying!

but the University years are actually the BEST years to learn about budgeting and living costs if they haven't done so before.
It is the easiest time in the world to be on a tight budget. (I know there will be exceptions, but we are generally talking about 18 yr olds leaving home, so) no dc to worry about - just yourself. Perfectly normal to not need smart clothes. Most (again there will be exceptions) don't have a commute. It is the perfect time to learn make those choices about paying club prices for a drink or going to "pre-s" then not drinking when out. It is the perfect time to learn that if you spend all your money on one night out, you are going to be pretty hungry until the next bit of money comes in. It is normal to be huddled in a room with a blanket round you (or used to be, before 'all inclusive of bills' contracts come in). It is a great time to discover that you can get a train at the cost of £98 or you can get a megabus for £4.50, but the flipside of that is it takes 4 hours longer. It is a time to learn the ways of getting that train fair down (booking early splitting tickets, using railcards etc) if you put a bit of time into organising it. Learning where (and when) to buy your food. Learning not to wash things after one wear.

To me, learning to budget (in real life, not in theory) and to deal with life is a really big part of going to University - as much, in many cases as the degree itself.

So if you move out of your parents house in say a house share before university and the question is "how much is your household income?" Surely you could lie and and say zero? I mean there's loads of people who don't have contact with their parents for one reason or another, how can they check you're being truthful?

You have to prove it!

Oh BTW I know it's normal now fir a child to have gum membership- ds does at home - but I'm cancelling that and won't pay at uni. I consider it a luxury. Most unis will have lots of sport clubs to join at low cost, lots of new friends to run with etc.

@ladygugu · Today 12:07
‘So if you move out of your parents house in say a house share before university and the question is "how much is your household income?" Surely you could lie and and say zero? I mean there's loads of people who don't have contact with their parents for one reason or another, how can they check you're being truthful?’

It is more complicated than that @ladygugu If you are under 25 then you have to prove you have supported yourself fully for 3 years by evidencing pay slips, benefits, rental agreements in your name etc. Or alternative prove your relationship with your parents has irretrievably broken down and you are unlikely to have contact with them again this can be by way of a solicitors letter, or by someone who knows of the relationship in a professional capacity ie social worker, care worker, police, Dr etc etc.

Do they consider number of dc? Dh and I earn well but 3 dc in uni at the same time will be really difficult.

needaholiday - surely they will work whilst at uni then? Or take a gap year and work/save? Thats what most of my sons friends did. We had been saving since they were born.