Active discussions

Meet the Other Phone. Child-safe in minutes.

Meet the Other Phone.
Child-safe in minutes.

Buy now

Please or to access all these features

Talk
Chat

Join the discussion and chat with other Mumsnetters about everyday life, relationships and parenting.

Original poster

Cost of uni for parents

166 replies

TeenLifeMum · 30/08/2024 09:25

I’ve read multiple threads on here about the cost of uni and parents supplementing about £800 per month. Is this your experience?

my question is really aimed at those who earn too much to qualify for anything above the minimum loan but aren’t crazy rich.

For context, I wonder if I need to plan for remortgaging or getting a loan to support all 3dc through. One will have one cross over year but the other two are twins so will be the same time. I don’t have a spare £2,400 per month available. Hoping for some real life experiences. (I do expect dc to have a pt job but wouldn’t expect lots of hours).

OP posts:
fireplacetiles · 01/09/2024 16:29

Our 2 only got the minimum loan, they both got £500 a month year round, so 6k a year and we left them to choose how to use it- pay rent etc, they both worked part time in pubs etc whilst away and in the holidays. Made budgeting easy for us and made them responsible for their own budgets. Last one has just graduated! Phew!

SilverGlitterBaubles · 01/09/2024 17:37

@Alwaysanotherwine I think the idea of paying to live in another city for the 'university experience' is a real luxury and something that does not happen often in other countries. I will be doing my best to encourage DC to stay local, even funding a car is cheaper than accommodation costs but there is a precedent that this is just not the same for whatever reason.

Motheranddaughter · 01/09/2024 17:39

Because it isn't the same 🤷‍♀️

Interested in this thread?

Then you might like threads about these subjects:

General money Higher education
JohnDutton · 01/09/2024 18:09

fireplacetiles · 01/09/2024 16:29

Our 2 only got the minimum loan, they both got £500 a month year round, so 6k a year and we left them to choose how to use it- pay rent etc, they both worked part time in pubs etc whilst away and in the holidays. Made budgeting easy for us and made them responsible for their own budgets. Last one has just graduated! Phew!

This is what we've done, pay monthly and they sort it out, think it's helped them to learn about their own finances.

Daisybuttercup12345 · 01/09/2024 18:13

All mine worked and paid their own way.
They also paid for their driving lessons and bought their own cars.

yoshiblue · 01/09/2024 18:36

SilverGlitterBaubles · 01/09/2024 17:37

@Alwaysanotherwine I think the idea of paying to live in another city for the 'university experience' is a real luxury and something that does not happen often in other countries. I will be doing my best to encourage DC to stay local, even funding a car is cheaper than accommodation costs but there is a precedent that this is just not the same for whatever reason.

This! Very grateful we live in a major city with excellent unis and a couple of further cities that are commutable too. Neither my DH or I had great experiences living away from home. Our DS is autistic, so I'm hoping he will more naturally suit staying at home anyway.

We are many years off but have been saving a small monthly amount in S&S ISA which is beating cash savings account interest rates and what I'm hoping will fund some of his university costs down the line.

SilverGlitterBaubles · 01/09/2024 21:00

@Motheranddaughter In other countries young people manage to get an education and grow up as perfectly functioning adults without having to travel hundreds of miles away for the experience of paying a landlord thousands of pounds.

Motheranddaughter · 01/09/2024 22:00

Whatever ,each to their own
Mine all wanted to go away,all had /are having a fab time ,and we were happy to pay for that
Couldn't give s fuck what other people do

Cesarina · 01/09/2024 22:32

Myteasgonecoldiknow · 30/08/2024 09:44

Honestly it's crippling. We didn't plan and it's been a massive struggle. Our stupid fault obvs but there you go.

Why is it “your stupid fault”?
If it’s any consolation, we didn’t plan either - didn’t know we had to!
I have a vague memory of reading about Martin Lewis ages ago saying that the government of the day, when the student loans system was introduced, should have been honest about the fact that parents would be expected to make up any shortfall in their childrens’ financial circumstances as uni students.
We had no idea about anything to do with this until 2008 when our daughter was applying for uni. I had no idea how much things had changed since I went to uni in the 70’s.

JohnDutton · 01/09/2024 22:42

@Cesarina changed in what way? I went in early nineties and was not eligible for a grant, both my parents worked, no loans either so they paid all my living expenses- there's always been parental contributions for many.

Goldenbear · 01/09/2024 22:59

Our eldest wants to go away for uni and in our respective families it is a rite of passage so I wouldn’t want to deny him that. I am currently looking for a much better paid job as is DH, we had eldest quite young amongst our peer group (mid twenties) so we are still working our way up career wise. TBH I would say I currently spend about £400 on his food, travel, social life anyway so It won’t be a massive leap. My Mum has kindly saved some money and my MIL probably will help as well off and that’s the precedent in my DH’s family - he had an education trust fund from grandparents, that was for post graduate but it is a similar notion.

Goldenbear · 01/09/2024 23:00

DS will work in holidays as well.

mondaytosunday · 01/09/2024 23:02

It depends on the cost of accommodation, if the student has a job and or savings (CTF for example).
My DD qualifies for almost the full maintenance but that's still less than her £10k accommodation cost. But she also qualifies for a university bursary of £2,700. That gives her £80/week while at uni, plenty as she is catered. Hopefully she won't spend it all and can put it towards next year. Plus she will work in the summer, and could save a significant amount then. I still pay for her phone.
That's why it's important to not only look at the wide variety of housing costs, but also what is available in terms of bursaries.
Plenty of kids go with little help from their parents - it's tough if they have to get jobs during term time too, but many do.

TheGoddessMinerva · 01/09/2024 23:05

@JohnDutton The main change is just the scale of the costs. Your parents may have been paying your expenses, but they didn't have to pay tuition fees (which weren't introduced until 1998, and even then were very low). Tuition fees for a three year degree are now nearly £30,000.

From what I remember of my student days, you should have been able to get a (low interest) student loan from 1990 onwards, and I don't think they were dependent on parental income, but I may be wrong about that.

Goldenbear · 01/09/2024 23:06

JohnDutton · 01/09/2024 22:42

@Cesarina changed in what way? I went in early nineties and was not eligible for a grant, both my parents worked, no loans either so they paid all my living expenses- there's always been parental contributions for many.

Well for a start the price of the tuition fees which you wouldn’t have had to pay for in the early nineties and the accommodation costs! Equally, my older brother went to uni early nineties and had student loans every year- if you didn’t choose to have them that’s just your prerogative, surely?

Goldenbear · 01/09/2024 23:08

TheGoddessMinerva · 01/09/2024 23:05

@JohnDutton The main change is just the scale of the costs. Your parents may have been paying your expenses, but they didn't have to pay tuition fees (which weren't introduced until 1998, and even then were very low). Tuition fees for a three year degree are now nearly £30,000.

From what I remember of my student days, you should have been able to get a (low interest) student loan from 1990 onwards, and I don't think they were dependent on parental income, but I may be wrong about that.

Exactly, you are absolutely right about that as parents had nothing to do with adult’s financial loans in those days- I.e there was no means testing of your parents’ income, it was nothing to do with your parents like it is now!

Sadtosaythis · 01/09/2024 23:11

My daughter gets the minimum loan. We give her the extra to cover her rent which I think is about 2200 and then 200 per month when she’s at Uni. Then obviously any extra things she needs. I would say it’s about 5k per year. She’s got a part time job but only earns about £200 per month however works more in the holidays and saves that up. She is home most weekends for work so that helps her and we give her lifts back to save on travel costs.

Goldenbear · 01/09/2024 23:12

mondaytosunday · 01/09/2024 23:02

It depends on the cost of accommodation, if the student has a job and or savings (CTF for example).
My DD qualifies for almost the full maintenance but that's still less than her £10k accommodation cost. But she also qualifies for a university bursary of £2,700. That gives her £80/week while at uni, plenty as she is catered. Hopefully she won't spend it all and can put it towards next year. Plus she will work in the summer, and could save a significant amount then. I still pay for her phone.
That's why it's important to not only look at the wide variety of housing costs, but also what is available in terms of bursaries.
Plenty of kids go with little help from their parents - it's tough if they have to get jobs during term time too, but many do.

I thought the maintenance loan was means tested- I.e your parent’s income? We are over the threshold so Ds we get the lowest maintenance loan. When you say savings, did you DD take a year put as I have heard that’s the only way you can not take your parents’ income into account?

toomanyp · 01/09/2024 23:12

We gave our children about £100 a week but the actual loan was on them. Two are now earning enough to start repaying. The other one the most intelligent is now back packing. Absolutely hated having a proper,professional job …a free spirit now. Just as long as they are all happy…expectations for younger generations are different now.

caringcarer · 01/09/2024 23:17

I just wish they would remind parents to start saving when DC start high school. I would have found it hard to pay out a lot each month so I started saving when DC was in year 7. I saved for second DC but he didn't want to go to uni. Instead I payed for him to do his class 1 driving course and exam. I wouldn't remortgage but would consider a loan on interest free credit card.

caringcarer · 01/09/2024 23:19

OP also if DC are not living at home your food shopping should be cheaper. Make sure you cut that back to give to kids at uni to buy their food

ChazsBrilliantAttitude · 02/09/2024 08:35

DS1 was at Exeter and his rent was around £700 pm. In the 2nd and 3rd year all the private rentals (no Uni accommodation available) were 11 month contracts.

He got the minimum loan and so we paid the rent and deposit plus phone and travel to the Uni and a supermarket shop at the start of term.

I am budgeting around £8000 per year for DS2.

Cesarina · 02/09/2024 11:47

JohnDutton · 01/09/2024 22:42

@Cesarina changed in what way? I went in early nineties and was not eligible for a grant, both my parents worked, no loans either so they paid all my living expenses- there's always been parental contributions for many.

The main change I was referring to was tuition fees - sorry, should have made that clear.These were introduced in 1998.
Until then, higher education tuition was free, but obviously living costs weren’t. I did get a grant in the 70’s but not a full one, based on my parents’ income, and my father had to contribute the difference. I worked some evenings, weekends, and all summer holidays.
The situation now is there are grants and loans determined by the income of the student’s parents. I had no idea about the current student finance system until my daughter wanted to go to uni in 2008. I probably should have taken steps to find out, but my daughter only decided she definitely wanted to go to uni after much deliberation so finding out what was entailed financially was a bit of a last minute scramble. And I think you had to make the effort to find out this info yourself, as I don’t recall it being widely publicised. What Martin Lewis has said was, IIRC, that even when students get the maximum student finance available, the government admitted that this was not enough for students to live on, and they expected parents to help out, (even if they weren’t in a position to), but deliberately did not make that info overt.
So I was trying in my first comment to tell people not to beat themselves up for not being properly informed or prepared 🤷🏻‍♀️

amigafan2003 · 02/09/2024 13:06

Cesarina · 02/09/2024 11:47

The main change I was referring to was tuition fees - sorry, should have made that clear.These were introduced in 1998.
Until then, higher education tuition was free, but obviously living costs weren’t. I did get a grant in the 70’s but not a full one, based on my parents’ income, and my father had to contribute the difference. I worked some evenings, weekends, and all summer holidays.
The situation now is there are grants and loans determined by the income of the student’s parents. I had no idea about the current student finance system until my daughter wanted to go to uni in 2008. I probably should have taken steps to find out, but my daughter only decided she definitely wanted to go to uni after much deliberation so finding out what was entailed financially was a bit of a last minute scramble. And I think you had to make the effort to find out this info yourself, as I don’t recall it being widely publicised. What Martin Lewis has said was, IIRC, that even when students get the maximum student finance available, the government admitted that this was not enough for students to live on, and they expected parents to help out, (even if they weren’t in a position to), but deliberately did not make that info overt.
So I was trying in my first comment to tell people not to beat themselves up for not being properly informed or prepared 🤷🏻‍♀️

Show quote history

But tuition fees make no difference as to whether one can afford to go to uni - 100% of tuition fees are covered by the loan and go direct from SLC > Uni - the student never sees them. It's not a living cost. So it doesn't matter if the tuition fees are 0 or 9250 - they have zero impact on the affordability of attending uni.

Cesarina · 02/09/2024 15:15

amigafan2003 · 02/09/2024 13:06

But tuition fees make no difference as to whether one can afford to go to uni - 100% of tuition fees are covered by the loan and go direct from SLC > Uni - the student never sees them. It's not a living cost. So it doesn't matter if the tuition fees are 0 or 9250 - they have zero impact on the affordability of attending uni.

Edited
Show quote history

I referred to tuition fees to reply to another PP who had asked what had changed since I went to uni in the 70’s. They were introduced in 1998 whereas my tuition was free.
Yes of course a student’s loan for tuition fees will go directly to the uni.
My post you have quoted was referring more to living costs. Some students get the maximum maintenance grant/loan, others obviously don’t. What I recall Martin Lewis saying was that even if students get the maximum amount of financial assistance available for living costs, it does not cover them - parents are expected to help, (whether or not they can), and the government was dishonest in not making this clear.
My posts were mainly to sympathise with a PP who was berating herself for not having saved for uni costs. I was trying to point out that not everyone, (including me!), was up to speed on the whole university application system, especially regarding the finances involved. And not saving up for your child to go to uni was probably/possibly due to not knowing you were supposed to! Hope that clarifies things.