AIBU ,dd of to uni we are skint...AIBU to think the student lone will cover her for everything???

[Petal40]

Just that really...she's not saved.we are struggling .she chose to save to travel.not save for uni.she thinks it's all going to be ok because she will get a student lone....but will that lone cover everything?? And when she finishes she will be £60 grand approx in debt ...well our first house where she was born cost less than the debt she will be in after 3 years..I hope to god she changes her mind and decides not to go

Think of it this way burning once your dd's earn over 21k they will pay 20% tax on the first 20k they earn and 29% on the rest. obviously goes up when/if they become high rate tax payers. So if they earn 25k they only pay back £30 a month of their student loan.
They then get written off after so many years.

I havent read the whole thread, but might Open University be a better option. Then she could work pretty much full time, help you out at home by paying say 50% of her earnings to you and study at night. Some may say she would miss out on the student experience, but to be honest, working full time and studying at night would make her grow up a hell of a lot faster and she will not have time to waste money on the "student lifestyle" bullshit as she will not have time for wasting time dossing.

What Pingu said.

I was the first cohort of students who had student loans and tuition fees.

I had no parental support (in foster care) so had to take the full amount. I got a small allowance of about £30 a week and my housing costs were paid for by my local authority.

I came out the otherwise with about £10k of debt which seems like nothing compared to today's students.

I got a very good job and 14 years later my salary is £70k + and paid my loan off.

However this isn't the norm for most graduates at all. I still didn't have enough to save for my first home - we got a 100% mortgage but again were lucky enough to have salary increases to reduce the LTV significantly.

I've got younger colleagues now who have bigger loans and even though they've saved large deposits, house prices are such that they cannot afford to buy. Unless they want to go for a silly new build flat which are over priced in my view. This is in London.

I'm sure people will say "just move out". But why? Is London the playground of the rich only?

Anyway I digress.

My two are 6&4 and it costs are such I hope that they don't waste time going to university and go straight into the work place at 18.

It's a real shame because I absolutely loved university - because I got a great education and it broadened my intellectual horizons. This put me in a fantastic position for work as I could think broadly.

Now we are all about producing autobots. We get 18 year olds joining us and they are just so used to the exam machine that it takes longer to bring them to the right level intellectually.

persiancatlady we've already sorted all our student finance paperwork for this year and we definately do get grants. Thank goodness! Looks like my OH applied for Uni just in time. It may be because we are counted as independant students because we have DD possibly? I recall last year instead of a loan I got a special support grant which was non-repayable with the idea behind it that if I wasn't at Uni I would be eligable for benefits, which obviously aren't repayable so its not fair that just because I chose to go to Uni that my living costs are a repayable loan. I'm so glad that the workings are different if you have DC!

I don't think you have said what her ambitions are but I work in television and most broadcasters take on Apprentices now who work and study at the same time. The apprentice in our team got paid and had a proper job for over a year with loads of responsibility as he was really capable and when it was time to leave he went on to get a good job quite easily due to the experience he earned in that time. Other apprentices in the company also moved into full time employment in our company at the end of their apprenticeship. I know the scheme isn't available in all industries but I would highly recommend it over going to Uni for getting started in TV broadcasting.

Loan won't even cover accommodation in our experience.I believe those on very low incomes get additional Grants that are not paid back.Agree Martin lewis has good advice.Remember you earn £22,000 before you pay any back then only over that amount eg at £25,000 you pay back at the £3,000 over probably £30 a month. Look upon it as a graduate tax it is her debt not yours.If she has a family and works part time may never need to pay it off.

I also object to the student applying for the loan, and them being the only ones the SLC will talk to, but the parents are expected to supply all their financial details to their child so they can fill in the form. Stuff that.

Unless the process is different for mature students then that isn't what happens (now at least).
I am a mature student and my DP got an email asking if a) he was prepared to support me and b) what his financial information was. That information was kept entirely separate from my own. Also, when there was a problem with one of my grants being underpaid, they would only speak to him to clarify his salary. I couldn't sort it out myself. They were very strict over confidentiality of financial information. I deal with all of the money at home so it was a bit of a shock to not be able to fix the problem myself.

My sons loan is 4k and halls alone are 6k
Your dd may be able to get hardship help from uni ??i know a friend with low income got full loan and l.5 k the latter which she will not have to pay back . She is not struggling in the slightest and has about 100 pounds per week seperate from any rent
.
Are you a low income family ? If so approaching uni may help and she shd get full loan ?
Also some uni s have schemes to help students get jobs .
Look on Internet about parental income threshold s ?