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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

Cost of University 2017

119 replies

janmack23 · 03/11/2016 22:55

D1 is applying for Uni for Sep 2017 soon, no1 child -so confused and frightened about funding. Was an associated Med Occ with bursary but of course with my luck that's now gone, but I am struggling with how she or we can afford to let her go. Earnings are a bit above £50k on a good year but we have other kids at home, obviously don't claim benefits but after student accommodation costs (which won't be covered by student maintenance) it means we'll have to find money we haven't got to pay for her to just eat and live and there is nothing out there. Can some one explain how we can give her money we haven't got.

OP posts:
OwlinaTree · 03/11/2016 22:57

There are loans available. She could get a part time job? She could commute from home to local uni?

MyLlamasGoneBananas · 03/11/2016 22:57

Watching with interest. You sound in a very similar situation to us.
I've started to get quite anxious about it and not sleeping.

OwlinaTree · 03/11/2016 22:59

The costs are outrageous these days though. Tuition fee loan is the only way forward.

OutDamnedWind · 03/11/2016 23:09

Cheapest accommodation possible, part time job now and as much as possible whilst studying. Also consider a gap year spent working to save up money beforehand.

baconandeggies · 03/11/2016 23:13

Yup, did gap year to save, went on an accommodation list to share a flat with other students as it was cheaper than halls, and got a part-time job that I could do full time in the holidays. Full student loan. Still got into lots of debt on credit cards but all worked out in the end. Didn't receive 1p from family.

Original poster
janmack23 · 03/11/2016 23:17

No local uni doing her course - Physiotherapy, and she may find it difficult to do part time jobs - not in first year year maybe but because of placements will struggle to commit, but to be honest I want her to enjoy Uni life and appreciate and work hard on her course not to be committed to work at this time of her life

OP posts:
Original poster
janmack23 · 03/11/2016 23:19

me to (confused)

OP posts:
PNGirl · 03/11/2016 23:22

Combination of loans and working in the holidays (and in my final year, working p/t retail 16 hours a week) did it for me.

baconandeggies · 03/11/2016 23:25

I want her to enjoy Uni life and appreciate and work hard on her course not to be committed to work

That's nice Hmm and not entirely unrealistic Hmm

BackforGood · 03/11/2016 23:28

Definitely consider working for a year and saving before they even start.

Or (or and?) holiday jobs. My ds works as a lifeguard over the Summer and earns about £3k in his university holiday, alongside taking 2 weeks to come on holiday with us and a further week to help on a Scout camp, so by no means flogging himself. His girlfriends works in a fashion shop and earns as much as him much to his disgust as he had to pay for his qualification

Then give serious consideration to which university they choose. There are big differences in costs, especially in or around London.

BackforGood · 03/11/2016 23:31

x-posted

but to be honest I want her to enjoy Uni life and appreciate and work hard on her course not to be committed to work at this time of her life

Well there's your problem.

Can't have it both ways. People have worked their way through university since time immemorial.

Original poster
janmack23 · 03/11/2016 23:32

This is how confused I am - isn't there a Tuition Fee

OP posts:
baconandeggies · 03/11/2016 23:37

Google MSE guides and student finance for info

Original poster
janmack23 · 03/11/2016 23:43

Ok lets just cut to the chase or go back to the original question - I know she's going to be in debt of £9250 a year and we may be given a Mat grant of approx £4000 a year, all to be paid back of course but I suppose the question is how can we give her the money to live on a weekly basis when actually we close our eyes when we check the balance at the atm

No foreign holidays, no expensive cars, no horses home

OP posts:
cardibach · 03/11/2016 23:48

Maximum loans, she'll be fine. Don't worry about student debt. Really. A physio will only pay a fraction of it back because of salary levels. It isn't taken into account for mortgage assessments.
Money should not be a bar to anyone going to University. I know of at least one student friend of DDs who gets no extra help from parents (she's one of 6), doesn't do paid work in term time and is saving for a spot of travelling at the end of final year. She's taken the maximum loan on top of her grant. On £50k you might feel you can/want to give her a bit of help with rent, or to cover other expenses (like car insurance if she needs a vehicle for placements) and that will make it easier for her.

cardibach · 03/11/2016 23:49

Just seen your last post. Anything referred to as a grant (DD gets some maintenance grant) does not have to be paid back, just the loans. Every student is entitled to a loan, grants are means tested.

BanjoStarz · 03/11/2016 23:50

You can't, this is the issue with means assessing the parents not the students - you earn too much for your dc to qualify for means assessed assistance but not enough to be able to make up the shortfall.

The only way to do it is to be picky about which uni you go to and work your ass off in the summers and/or term time.

I graduated 5 years ago, not eligible for anything but the minimum loans - went to a relatively cheap uni (I had £50 a term left after my loan had paid my accommodation) and managed to survive on a combination of holiday jobs and credit cards.

orangetree99 · 04/11/2016 00:00

I understand your question janmack and we were in the same situation (DS now in 3rd year) There is a tution fee loan..that covers obviously tution fees. Then there is a maintenance loan but the amount depends on parental income. As we have a good income coming in (similar to yours) the maintenance loan only covers the cost of halls/accomodation leaving us to pay for living costs. DS gets £70 per week from us and tops it up by working in the holidays and also always asks for money for birthdays/christmas from us/grandparents. We didn't want DS to have to work at uni (but I know many do and he has been very lucky) but did insist he earned money in the holidays. If you can't afford to help financially then summer working, gap year, part time at Uni are all options.

Original poster
janmack23 · 04/11/2016 00:03

Thanks all for your feedback - I am new to this but am grateful for all your thoughts and experiences but I have no idea how to replying works for individual comments - so be tolerant!

OP posts:
stonecircle · 04/11/2016 00:07

On a household income (pre tax) of about £50k she'll be eligible for a maintenance loan of around £4800, plus a loan for her tuition fees.

Do look at the cost of accommodation- it can vary widely but not unusual for it to be around £5k or higher. A lot of universities offer bursaries. Some also offer incentives - e.g. Sussex I think offers £1k off 1st year fees and £1k cash if you get AAA.

If you can't afford to help her though it's likely she will need to get some part time work. One of DS's 1st year flat mates had worked his sox off during the summer holidays before going to uni to build up funds.

Hairyfairy01 · 04/11/2016 00:17

Physio is so hard to get onto without experience. I think I would be encouraging 2/3 years of working in physio related jobs whilst saving like mad and then applying. To be fair, placements can make part time jobs differcult.

Original poster
janmack23 · 04/11/2016 00:20

Bottom line we can't afford it not with a few little ones below D1, so what I suppose I've come to the conclusion is D1 is going to have to work while at uni while she is actually going to be working in her placements and have to pay extra due to commuting and accommodation and there is no help. I still am going to wake up sick.

OP posts:
BusyNothings · 04/11/2016 00:27

Ok I've missed a few posts so excuse me if I cover what's already been said. I work in a sixth form college so deal with this day to day.

Assuming your daughter is applying to uni for the first time as an undergraduate she will get the following -
A full tuition loan to cover her tuition fees, this is paid directly to the university three times a year. All your dd has to do is apply in time when the applications open around April next year. This will not be paid back until she is earning over £21,000 a year. Then she will pay 9% on whatever she is earning over that. EG if she is earning £25,000 she will pay 9% on £4000. This will come out of her wage each month like tax. She will not have to do anything.
For living costs your dd will apply for the maintenance loan and grant. This is means tested by her parents annual income for the last tax year. Roughly speaking (not knowing the ins and outs of your income) your daughter will get a little over £5000 a year to pay for her living costs. Eg rent food etc. This should be more than enough for rent and basic food staples. Anything else sadly she will just have to work a few hours a week - it is possible. Again this is paid back exactly the same as her tuition loan and is paid quarterly into your daughters bank account.

Now as long as she applies for everything in time, and plans money carefully (e.g. Shop around for halls and apply asap to get a good cheap one, use budget supermarkets) there is no reason she can't go to uni and enjoy the full experience!

Hairyfairy01 · 04/11/2016 00:28

She'll get travel allowance for placements. Pretty sure she will get a long summer holiday, unlike student nurses. It's tough but that's life. Plenty of qualified physios I know are working extra hours at weekends.

DereksGotATail · 04/11/2016 00:33

Do you work? We are in the same situation in that the maintainence loan just covers accommodation with no money left over for living.
I have increased my hours at work and do regular overtime so that I can give my dd £50 pw for food/living. She will not get this money during the holidays and will therefore need to find work when she comes home.
I did save approx £3000 beforehand to help with costs and so far haven't dipped into it but it's there for emergencies.