To be a bit worried about paying for DC university costs!

[rollonthesummer]

How do people manage it-how does it all work?!

In my day-I had siblings at university the same time as me-and we qualified for one grant between us! That paid for the accommodation and my parents gave me £125 a month to live on-I never needed a loan.

What happens now? Do they/you apply for one set of money (£9000 a year?) for the tuition fees and a separate loan for living? Is the amount you can borrow based on what your parents earn? If so-what is the current cut off??

Those with children at university now-what are you paying out on a monthly basis???

Astoria, you aren't talking about the new graduate apprenticeship

Raspberry - thats what I thought it was, income/interest, rather than savings in total, but your post definitely said savings. And the pp was asking about actual savings as, when you are retired, you are likely to have lower income, but also some savings too eg from lump sum payments.

I am still not sure why a sibling's interest payments would be taken into account? What is in their bank account belongs to them and is irrelevant to the overall household income surely?

I always thought the taxable income for student maintenance was same as on a tax form, although obvs combined for both adults if applicable. I wouldn't put DDs savings interest on my tax form, so why is it relevant to SLC?

Sorry Kath it was a rushed post in the first place.

I assumed it was connected to increasing the maintenance loan for dependent siblings, so if they had an income it would cancel this out. But I don't know.

This thread is getting me very worried!

DS is Y12 and will be applying for Unis soon. DH is well paid but had no pension with his last Company so we're frantically trying to build that up. Very little left at the end of the month.

When we started saving fees were £3000 a year so we thought we'd have it covered. Maybe not.

Amazed at London accommodation costs. Imperial is off the list now as we just couldn't top up enough.

borders you won't be paying the fees but you will need to top up the maintenance loan, unless your DC has a low contact subject and can work. They take out a loan for the fees.

Do they go by previous years earnings? Or do they take it year by year? Also i do agency work sometimes but its hit and miss.So i have a basic salary and then may get an agency shift. Just wondered if they would base 2017/18 finance on 2015/2016 earnings or from April 2017 to April 2018 earnings.and if they include any agency as cannot predict this. Eek

Sorry meant 2016/2017 april to april

Tis ok.I googled.

Fees paid by loan (poor daughter) maintenance grant doesnt cover her accommodation, we give her £20 a week...that is not enough, she has to have a job too...but its not easy....other child starting in September...no idea how they will cope for money..as they have no job...and we cant really afford it. If either dont have a job, they will have to leave uni...or starve..

It may be Maintenance loan to be honest...not grant, but it doesnt cover the cheapest halls of res....and they dont have fancy en suites like their frineds !

Just to add our experience. My 2 youngest are at uni - 4th year vet student (so just over a year to go) and one in final year of a 3 year course (hurray). Starting to see the light at the end of the tunnel.

They get the tuition loan that goes straight to the uni, and the maintenance loan (that I think is around £3600). We pay for their accommodation (rent that includes bills) and that's about £350 each a month (I'm stunned by someone paying £1k a month on rent - I know we have different living standards and expectations but still...). They're not in London though which helps! On top of that we pay for their phones (but only £8 a month each but that's about it - they pay for everything else themselves. I do occasionally get them shopping (like when I take them back at start of terms) and have been known to buy the occasional bit of clothing.

They have frugal tastes thankfully.

Oh, and, have just agreed to fund a car for dd who's a vet student as she needs one for final year placements, but only until she's working and can pay for it herself.

They'll be coming camping with us again this summer, so that's their holiday sorted ;-)