Affording Uni

[bustybetty]

My daughter (year 13) is considering uni. We are a normal family with no parental help (handouts) hubby is on 50K and my work is about 20K, we live in a modest house and have three teens as well. My question is I have just looked at the maintenance loan she would be entitled to and it doesn't even cover the cost of the accommodation - how do people afford this? We don't have spare money and I coupon where I can, we don't have phone contracts or gym memberships. I don't understand how most people afford to send their children to uni. Currently I'm thinking she will have to take a year out to work to be able to afford it.

ideas anyone?

@DoIneed1

I am not sure that there will be the same opportunities for students to work during term time as there have been in the past for the next year at lesst.

My husband was also shocked when our first dd went to uni, Op, like you he had assumed that any money we gave here would be for extras, not to help pay her rent. You need to be very clear with your kids about how much you are willing to support them financially if they choose the uni route. Don't do it be stealth - ie trying to get them to do an apprenticeship - be upfront and let them make the decision.

Totally agree with you. I just made an assumption that rent would be in her loan amount...haha deluded! I will take your points onboard. I would like her to get a decent job for a year first especially as the uni route won't really give her the normal opps it would (BC - before covid)

Any family earning over the set amount (which used to be about 60k but has probably gone up) are expected to make up the difference.

So yes, you'd have to top up the rent, plus find money for food/social life. Great if they can get a part time job but it depends what degree she's interested in doing. One of mine worked all through uni as she had less contact time, the other hasn't been able to work in term time due to being In labs/lectures all the time and on a very demanding course (he has worked in the summer though).

We topped up rent by about 2k a year, and gave him £200 a month for food (he probably spent about £30 on food and saved the rest for going out) He bought clothes etc out of his savings from summer jobs.

I would like her to get a decent job for a year first especially as the uni route won't really give her the normal opps it would (BC - before covid)

Where are these decent jobs that a 17/18 year old is likely to get in the current climate?
Would you really force yourself child to work for a year and delay her studies so that she can support herself through uni and avoid you having to rejuggle your finances and make sacrifices?

My parents had to pay for my accommodation as I got the £3k only loan and I also got a job on weekends and evenings.

Many friends saved up in the summer before to put towards accom.

You earn £70k a year (the average household income after tax is £30.8k) so are expected to contribute.

Being a single parent wouldn't necessarily help in this situation. My middle daughter is almost 15 and she's determined to go to uni. Her dad has already confirmed he will stop paying CM as soon as he's able to and wont contribute a further penny. But my understanding is that his income will be taken into account as well as mine when they work out what she's entitled to claim.

So he wont pay and mum will have to make up the shortfall. At least there are two of you willing to cover the cost and you've got time to make changes to save up. I've got a savings account specifically for uni fees and I put whatever I can into it each month

My DS is at uni. What they don't tell you about student loans is that they cover fees and rent and that's it. It's up to the parents to fund the rest, and, at the uni my son goes to, all students must live in uni accommodation (expensive) and they are not allowed to work in term time. So it's up to me to fund all his food, books, clothes, the lot. I give him about £100 a week.

• Being a single parent wouldn't necessarily help in this situation. My middle daughter is almost 15 and she's determined to go to uni. Her dad has already confirmed he will stop paying CM as soon as he's able to and wont contribute a further penny. But my understanding is that his income will be taken into account as well as mine when they work out what she's entitled to claim.

Pretty sure it's only the one (resident parent) household income taken into account

@Serendipity79 exactly my situation (except his dad has never paid a penny towards DS while growing up)

Did you seriously never even once google university costs when in the process of having four children? Just made up an assumption in your own head and are now shocked that it’s not true?

serendipity non resident parents income is not taken into account when calculating student finance. If you have a partner that you live with then I’m not sure if their income is taken into account.

‘NoT necessarily. Depends what area op Is living in, how many kids she has etc’
Yes, those are all lifestyle choices.

Is there a class divide on this . All my working class friends managed just fine with extra jobs and living very frugally. Making decisions re unis and accommodation accordingly we didn’t expect parental support because we know our parents couldn’t or wouldn’t pay. ‘Back in my day we were in the army at 17 etc etc’ . Not sure mine even believed in higher education was appropriate unless you were posh . That’s another story..

It’s amazing so many parents on the thread see it as their responsibility to support their child even past the age of 18. Mine didn’t and I didn’t expect them to. It was my choice to go to university. One could argue they were financially abusive ( even paid rent during my gap year when I was saving ! ) , but I managed fine . There is some growing up to do here for some kids that expect support but havn’t done the numbers or can’t budget and just show mummy and daddy the brochures.

From the sound of it OP your daughter has some expectation of you to support her . You quickly need to establish what you can or are willing to support her with and then help her to work out what she can and can’t afford to do based on that. Then at least she can make informed decisions.

My ex and I are forking out £5k a year per child to pay for uni accommodation. Two there at the moment so £10k total split equally

@yearinyearout
That's true.

Sometimes I think we would be better off as single parents for things like this.

Oh come on! Move with the times. I am a single parent household. I earn the same as your combined income and get no more help than you will. I pay for the accommodation. Not all one parent families are on the breadline. DC’s father - my ex husband - chooses to pay nothing as he has some sort of idea that youngsters can go to uni without parental help. They can’t if they are from a middle income family. I promised to help my kids and I’m sticking to it. Why not increase your own income?

To be honest I'm amazed it took you til she was in y13 to even think this might be something she wants to do. Most parents save and plan for years for this eventuality.

Why not cut down on your children's activities? There are fantastic free activities available. Put that money towards university.

Being a single parent wouldn't necessarily help in this situation. My middle daughter is almost 15 and she's determined to go to uni. Her dad has already confirmed he will stop paying CM as soon as he's able to and wont contribute a further penny. But my understanding is that his income will be taken into account as well as mine when they work out what she's entitled to claim.

I think it is your household income so your exes income will be taken into account. If you have a dp/dh their income will be taken into account though.

Oxford and Cambridge are at the cheaper end.

I’d say yes, there is a class divide. The middle classes pretty much expect to have to pay towards uni. Often on no more than the “working classes” e.g. self-employed trades. I see it as a duty to help my kids, 18 or not - if still in education.

I see it as a duty to encourage and assist my kids in qualifying themselves to be able to make money if they need it.

We're saving now for Uni, kids are 12 & 15.

We're not high earners but are lucky that we've paid off the mortgage and so save the monthly payments we had towards Uni costs or if they decide not to go, a house deposit.

With four kids OP I'd be hoping that some of them don't want to go!

@Belladonna12 I think it’s only the resident parent’s income that’s taken into account. I think the divorce laws actually need reforming so both parents contribute - but the system is stuck in the 1970s.

Is there a class divide on this . All my working class friends managed just fine with extra jobs and living very frugally. Making decisions re unis and accommodation accordingly we didn’t expect parental support because we know our parents couldn’t or wouldn’t pay. ‘Back in my day we were in the army at 17 etc etc’ . Not sure mine even believed in higher education was appropriate unless you were posh . That’s another story.

My working class friends got a full grant "back in the day". Now they would get a higher loan so no wonder they managed just fine.

[quote catspyjamas123]@Belladonna12 I think it’s only the resident parent’s income that’s taken into account. I think the divorce laws actually need reforming so both parents contribute - but the system is stuck in the 1970s.[/quote]
It's the resident parent and their partner. So if their parent has remarried or has a partner living with them both wages are taken into account.