My twins are off to university in September.
Managed to save £18k each in a child trust fund. They turn 18 next week and I haven't yet applied for finance as neither still know which course/uni they want to dp as we are waiting on some uni entrance exams still.
It's been no mean feat to save this on an average household income, as we always knew it was our only hope of funding two through uni at the same time.
I'm concerned that we may be 'penalised' for these savings when we apply for finance and receive less of a loan. This concerns me as I have no idea how we can afford both to go without these savings. If the savings are counted and will work against us now, is it best to apply now while the money is in our control or when it's been released to the child at 18?
Is this factored into uni finance awards or will it not be counted? Sorry, no idea of the best route to take.