To get increasingly annoyed at the mention of 'Uni funds' on here?

[WincyWillis]

Am I?

Not a thread about a thread as such but I've seen it mentioned several times on here recently, in an "Everybody must start a uni fund for their child or they're a terrible parent" way. Firstly, not everyone's children want to or have the ability to got Uni. Secondly, many people don't have any spare money at the end of each month and can barely cover bills, let alone save towards a Uni fund. Also, it's perfectly possible for a child to fund his/herself through Uni, as my friend's 3 teenage children are currently doing. There is no need for Mummy and Daddy to have a Uni fund.

And the phrase makes my teeth itch!

[SDTGisAnEvilWolefGenius]

Or possibly from the Latin - my memory is failing me.

[halloweeneyqueeney]

"It's just such a first-world, middle-class phrase. I would imagine that those that have a Uni Fund will also be putting huge pressure on their children to attend Uni, which I think is unfair"

rubbish most people say the "uni fund" will go towards driving lessons/first car/first flat etc if not used for uni

its a good thing to do if you can, what's the problem OP? is it because you CAN'T at the moment (neither can I but I don't get annoyed at it, its in the long term plan) or what?

[DontmindifIdo]

ICBINEG - as I said, might not be the same situation by the time DS goes, plus at £4k per year for hall fees, then needing money to actually live on for 3 years (just how little do you think you could live on?) it's a lot to find for most parents at short notice, or a lot of debt for a young person to take on. Remember, this is on top of the £9k a year debt from fees alone... (and the argument that you could live at home with parents only works for people who's parents have had the foresight to live in commuting distance of a university that will actually take you.)

[SCOTCHandWRY]

adeucalione Thu 04-Oct-12 16:38:40
ScotchandWry -

Actually you need a household income of over £62.5k before you are only entitled to the minimum loan (of £3575 pa).

you are right about the £62.5k (well, £61k here in Scotland), don't know why I fixated on 35K, I think that might be where the loan starts to get reduced here (Scotland).

I am greatly vexed over the whole thing as I currently have 2 DS at Uni (on 5 year and 6year long courses!), and each can get only £940 per year (Scottish as I said up-thread). £940 each... Halls are roughly £4.5k per son.

We are giving them a bare minimum, frugal amount to live on... that still adds up to £6000per DS, per year, a scary amount especially with DS3 due to start in a couple of years... we will be funding 3 for 2 years

[SCOTCHandWRY]

SDTGisAnEvilWolefGenius Thu 04-Oct-12 17:20:11

Like you, we assumed the living cost loan would be available to all students, and didn't find out until we actually applied for it after DS1 had his Uni place... and I know other parents who were caught out the same way.

DS1 course is 6 years even though it's an English Uni, DS2's is 5 years (Scottish uni)... that's a long time to be paying out.

Obviously it will improve a bit next year as Scottish minimum loan increases... but still there is a big funding gap to plug.