Uni- how much?

[LotsOfBalloons]

So my eldest is in yr 9 and I have 2 kids.

Fibancially we have stretched ourselves to manage music lessons, swimming etc.

Both are at a grammar school and are expecting to do uni.

I'm starting to get The Fear. Our income isn't high for a number of reasons and we haven't got capacity to save beyond 100 a month we save for car issues/etc. We don't do expensive holidays, have old cars etc.

A threads I was on suggested needing 30k for uni. That's so way beyond us.

I was wondering if people could let me know what they do need (ie don't come and tell me you've bought your child a house etc as not relevant!)

I went before fees were introduced. I know they have loans now (I'm already anxious about them leaving in debt but I know its how it works now) but do the loans cover enough?

My child is keen to work too but there aren't Saturday jobs like there used to be and noo e around here employs under 16s anyway. Having said that, they're autistic and may not have capacity for work and uni at the same time.

@Pieceofpurplesky thanks. Other posters suggest that it's not doable/ "poor as church mice" but maybe their kids will have higher expectations of expensive activities and socialising.

I hope being poor as church mice at uni will be okay for mine. I hate the thought that they will miss out.

I am in Scotland so in a different position because we don't have tuition fees and the debt associated with it.

For the rest of it ds(19) commutes 40 mins to uni and works PT. Prior to starting uni he had £2.5k saved working from around May, then extra hours over the summer hols between school and uni. He has just finished 1st year and didn't take out a maintenance loan and doesn't plan to take one out in 2nd year.

We keep a roof over his head, bought him a laptop for 1st year, pay his car insurance, feed him when he is in and give him around £1k in cash each year for his Christmas/Birthday, but otherwise his PT work (around 15 hrs a week NMW + tips) makes him more than enough to live on, run his car, gym membership, phone, Spotify, etc and also pay for the week abroad he is currently on with friends. When he gets back from the holiday he will be working extra hours to build up some savings for starting back at uni again.

As the uni workload increases in 3-4th year his plan is to work less and if needed take out a maintenance loan so he can focus on uni work, or do work experience in the summer break. He might decide to live out in later uni years (his course is 5 years), no idea how we will afford it if he does, but will cross that bridge if/when we get to it.

You’ve said in your opening post you’ve got capacity to save £100 a month, so let’s say you save £800 a year (so less than that) and you’ll have saved over £3,000 by the time DC gets to uni. Add to that what you’ll save in music lessons, swimming etc and you’ve got a couple of thousand to play around with.

Add that to maximum loan, plus potentially DSA and loans/grants, then you might be looking at a decent amount.

With regards to work being an issue, entirely fair but it might be worth considering (closer to the time) what sort of work he could do and seeing if there’s any relevant temporary jobs or work experience in the field. Thinking of the long term it will make the transition out of uni alot easier!

No we're not in a position to do a second job - great that you are!

We are low income. We already live in the "downsized" house. I think the "you'll find a way" comment only really applies to those with a reasonable income!

Is a year out and a job a possibility- during the year out? It would certainly help

@LotsOfBalloons I am a single mum so DS is used to doing everything on the cheap. One big thing was teaching him to cook from scratch - some of his flat mates live of Uber eats and ready meals. He can cater for himself for £50 a month easily.
He is also on a campus university so less nightclubs/pubs. He has loved the nightlife/flat life on campus though. There's lots of variety.

The £100 a month we save gets spent on car bills/etc so it isn't savings in terms of long term savings. We are hoping to stop music lessons when they pass grade 8 although that's not popular with them simply as we can't really afford it with costs going up at the moment.

But aside from that if they can manage on full loans even if they're "poor as church mice" that will be the case and I will have to handle expectations accordingly.

@LotsOfBalloons Ds wasn’t keen to delay uni when we discussed it, but when the time came he felt differently and his two closest friends have both said they now wish they had deferred. We are lucky enough to live close to a city with two unis and we’re commutable to two others, so I do appreciate that our situation is perhaps a little unique.

Dd will be just starting uni as ds leaves (his is a 4 year course) and given her chosen vocation, I think will probably be looking at a couple of very specific, southern unis. Not sure how we will manage that, but hoping our situation may improve in the meantime. She’s pretty good with money and very keen to start working now, but has been unable to find paid work locally. She has a summer job, but it’s voluntary for the Local Authority, as no-one will employ under 16’s around here either. So frustrating when they are willing to work to help themselves, but can’t get jobs.

no a full minimum loan won’t even cover accommodation in halls. It might cover a shared flag rent in a cheap city.

a full loan that is enhanced because of your low income probably will cover rent in a flat but maybe not food or bills.

this is why most kids get help from their parents. And / or jobs in the summer and at weekends.

it won’t stop your bright kids going to uni but they will have a lot of debt if you can’t help them out . So they might want to do a vocational course or something that leads to decent employment.

I have two kids at uni and I’m a single parent on a low income .

My DS is at Uni in Leeds (Yr 2). He worked for a year before going (to be honest because of covid). This money has been a really good cushion - he saved most of it. The first year is expensive. He gets minimum loan which we have topped up. £4,500 (ish) loan - £6,700 (ish) accommodation costs. We made up the difference. Everything else came from his financial cushion. Year 2 - shared house for 5 - keeping same house for year 3. £350 a month plus bills - so better. When the time comes I would think carefully about accommodation and living costs (as in think carefully about London unis). Also do not be dragged into expensive accommodation. You see people paying for 3 years in very expensive private student halls - shared houses are the way to go.

Did you see my post re scholarships and bursaries? Often aimed at increasing participation of those who may be financially or socially disadvantaged. Some unis are more generous than others and criteria vary. There is also DSA to help address any learning support needs.

@Pieceofpurplesky thankyou. I'm really appreciating your posts. They are pretty good at cooking and I hadn't even thought that some students would rely on uber eats etc! Of course they'll need more money if they're living like that. I guess my child will be used to our standard of living so wint be expecting expensive meals out etc!

@CaveCanem yes they're keen to work already as theyd like to be able to have money to do things now, but nowhere takes under 16s.

The pp from Scotland- so much more sensible! The disparity in the systems is crazy.

@MillieMollieMandy1 makes a good point about expensive cities. As long as your kids know now, they can figure that into their plans.

There are very very few careers where it’s essential to go to one particular uni in one city . Most students can be flexible .

( of course as I’m typing this I can immediately think of 2, but they are quite obscure 🤭)

Yes we've already said London is out!

Also do not be dragged into expensive accommodation. You see people paying for 3 years in very expensive private student halls-shared houses are the way to go.

Agree.

DD had lots of friends who wanted en suite rooms and told their parents that they couldn’t possibly share a bathroom when they went into halls. They have all now spent a year happily in second year houses with a shared bathroom…!

If they get full loans they will manage. I lived and partied hard with my loan and no tip up from parents. Loved on beans in toast and super noodles. It was bloody great

My experience as solo parent has been that both my children have been eligible for awards from their unis based on our low household income. One child gets £2000 a year and one gets £3000 a year. We didn't know about these when they got their places, but they were awarded automatically when we applied for the student loans. So you may benefit from something like that?

Students have long summer breaks - 3+ months - which leaves time for a decent amount of work to boost funds. They don't have to work term time. What type of job do you think your DS could do?

Once the world is automated creative professionals will be in demand as we all have leisure time to indulge.

Sorry, I haven't read the whole thread.

I guess I'm relatively low income - ds got the full loan for his first year and will get almost the full loan for his second.

I haven't had to find any extra money around the loan at all, except for food costs when he's at home for vacations.

Tuition fees are paid by the loan. Maintenance loan is enough.

Two things that really help.
He's at a university where he only has to pay accommodation costs during terms. And the university gives a small extra chunk of money.

I would STRONGLY advise that your ds's and you are strategic about accommodation. There are excellent universities in places where accommodation is fairly easy to get and not as expensive as the worst. You've already very sensibly ruled out London. Once you've got a longlist of good courses, whittle down by accommodation costs and/or the resources of the university.

Secondly, think outside the box in terms of earning money at least in the vacations. I agree that front of house bar work might not suit your ds. What about kitchen work in restaurants, gardening, pet care for people who are away, after school child care, care/assistant work for people with learning disabilities, tutoring or teaching a skill? If your ds couldn't do any of these things now, it would be good to start getting him equipped to do so. I despaired of EVER finding a reliable regular gardener for my elderly mother for example.

Don't panic and don't despair. There will be a way but you need to keep planning.

What sort of degree do you think your DS will be looking at OP? Maybe he could find some work connected to his field of study?

Another consideration is the figures we are using today we're set before inflation started to increase in the autumn so in real terms the full loan amount is worth less than it did this time last year.

@Charlieandlola £150 p/w is very generous/excessive especially if you are topping up for phone, clothes etc. I don't think that's usual as many graduates/ adults won't have that level of disposable income.

Op, it is worth looking at the cheaper university towns/cities and if they are very bright Oxbridge might be suitable and it's more affordable.

You haven't mentioned your income but you say you are low paid so potentially are eligible for bursaries.

Here’s a question about their personalities @LotsOfBalloons . Imagine your kids are at uni full of posh thick kids from rich families, how would they feel ?

“ Oh I’m so ashamed that my parents aren’t rich , I have to fake it / lie about my school / home / part time job / change my accent / whatever or I won’t be accepted . “

or “ What the heck has it to do with anyone else ? I earned my place here and I’m as good and anyone else ! Anyway there are students here from all over the world, it’s who you are now that matters and and who cares what the trust fund kids think “ .

If it’s the first, then they need to avoid certain unis.

I ask this question without judgements - I have one child in each of the groups above.

Thanks @PermanentTemporary . I was beginning to think from posters on this thread that the loan wouldn't be enough. We have started to think about work (music shop for example, although those jobs dont come up as often).

I'm nervous how they will cope with shared houses as it is (autism).