Fair amount to give DD a month (student)

[Lottie4]

One reason and another we haven't had to support DD at uni this year.

She's entering her final year, so her student loan is reduced to £5400 but she still has to pay rent for the year. We previously said we'd give her extra this year thinking it'd be around £325pm.

I've been looking at our own finances with prices escalating, but am aware she's also going to have increased costs as well. On top of which just been looking at student flats and realistic ones are nearly £9,000! (found one £7,000 it'd take a good hour to walk to centre/uni) - rent before was £6700pm as expensive city. Very little chance of getting a job at uni as she desperately tried before.

Trying to work out our own money for coming year, but just wondering what others would think is fair to give her (if we can afford). To help out, I know she'd probably limit travel home, 2020/21 hardly had heating on and entertain in flat. Eats fairly cheap anyway as virtually vegan.

Any thoughts?

Where is she - £9k is ridiculous!
Parents are supposed to make up the difference between the loan awarded and the maximum loan (about £9.5), but with that amount of rent it's not going far
Has she got time for a job? There must be loads of opportunities in the city even if she can't get one at the uni. My DS works at one of the coffee shop chains and earns well. He lives off his earnings and minimum loan and we pay accommodation.

We pay accommodation, currently £650/ 12month contract (London)
Rates for 2022/23 look a lot more expensive right now, before factoring higher bills.
Last two years have been miserable for students.

We pay rent and ds lives off the minimum loan. Rent is extortionate where he is, eye wateringly expensive. Only one more year!!

If she was eligible for the full loan she'd be awarded around £9k a year - you're supposed to top up whatever she gets to that amount (or does she live at home?). So £325 a month seems about right.

But £9k for a student houseshare - that's more expensive than London! Or is that for a studio or something?

Can she cycle from the cheaper flat?

She should be able to get work though. Just about every restaurant, cafe, bar, coffee shop is permanently desperate for staff.

If her loans are reduced due to your income, you are expected to contribute, but it shouldn't all be on you.

She needs to work a few hours a week and more in the holidays too. She could look for full time work over the summer and save hard if she wants the luxury of not working or living very close to university.

That rent does sound very expensive. If it’s a studio, would she be better off in a house share?

9k seems a lot for a house share… is she in London? I shared with 4-6 people each year at uni to spread the cost

I'm not sure that posters on this thread realise just how much house shares can be depending on the area. They can easily be 9k plus bills and not particularly plush or near the uni.

£9k PER MONTH?!!

We give DS £250 a month which is enough for him to live on, luckily his halls fees were covered by the loan (he gets about 6k I think and he got allocated cheap halls which made a huge difference!). He also works a couple of supermarket shifts a week. Not London though.

No, per year. Dear God!! 😱

It’s nuts. My entire mortgage is 800 per month.

I know, we pay more than our mortgage ever was!