Financial support at university

[Tevion28]

Im already fretting about ds and how he will cope at university financially as after accomdation is paid he only has £540 left for next 3 months. He will probably get a job butvibwas wondering how much do you give your dc each week if anything

I sent about £50 a week, with the full loan also

I found it bizarre that students lived off their parents at uni. I got the full loan which just about covered rent and bills, and then I worked around 18 hours per week to make up the rest of it. It's totally doable although I did stay at uni all through holidays so I could keep hold of my job.

I’m not sure some people understand how the maintenance loan works.

If the parents are on a low income and can’t afford to top it up, the DC will get the full loan which is £9k.

If the parents earn more (eg household income of more than £60k), the DC will get less, probably the minimum loan which is £4000. Then the parents are expected to make up the difference in the form of weekly/monthly amounts.

Those DC getting £9000+ won’t be getting the same monthly top ups from parents (who can’t afford it), because they are already getting double the amount to live on so don’t need it.

I had £325 a month from parents years back plus maybe £50 from grandparents and a part time job .

Loan covered rent only

DS is at a uni in London. He only gets £6166. He worked all through the summer to bump his bank balance up. We send him £80 a week allowance. He has also put his child trust fund money £1000 into a back up account.

£180 per month is a liveable amount. Gym is a luxury. He can go for runs etc. Part of being a student is learning to prioritise and make your last Tenna last the week. My friends and I all had PT jobs and got student overdrafts. Life saver. Mine was about 1500 and didn't need to be out of it until 3 years after graduating. Worth looking into as interest free. My family couldn't afford to support me but I didn't need them to either. My uni also did a 'hardship fund', you could apply twice a term for financial support that didn't need paying back.

Surely his university has gym facilities of some kind? Gym membership does not sound essential to me.

many of my friends children had summer jobs with national organisations (WHetherspoons, takeaway chains) where they were able to work at branches near university in term time, and near home in holidays, so his attitude in summer was a bit short sighted.
Nothing stopping him from looking for a part time role now he is there. A couple of 4 hour shifts weekly even at minimum wage (and from shortages I think bar/restuarant work is often paying more than minimum) will give him a healthy top up. If the poor darling thinks his studies don't give him enough time for that, he can give up the gym membership - double win.

My son worked over the summer. We are topping up his loan at about £30 a week.

It was a big mistake for him not to work when y13 ended in May/June this year.

Personally I'd think he was fine unless he has to travel home for Xmas and it costs a lot on the train. Plus he's a student so living on eggs and beans is part of the experience and will help spur him on to find a job.

The best jobs are national chains as you can work in your university city during term time and near home during the holidays because they have people wanting the opposite way round iyswim.

£180 per month is a liveable amount. Gym is a luxury. He can go for runs etc. Part of being a student is learning to prioritise

This ^
Learning to budget is one of several skills students do at University.

@Tevion28

He didn't work over the summer as he said he was off to uni and would have to leave anyway and will until he gets to uni and get one

I would not have accepted this. Students get summer jobs. It's what they do. It's part of learning to be independent and learning how to budget

My DS gets full grant /fund maintenance as I am on low income and have other children at home to provide for even if he wasn't. He gets supported by me the 5 months he isn't at uni.
I don't send him regular money, he works during holidays part time to save up. I saved up before he went and that money all went in first year.

I help him where I can, on occasion sending goods parcels and paying for the odd thing including his mobile. We work it out as I won't see him go hungry. During lockdown Amazon was a godsend although the reception at his halls were not best pleased with online deliveries (hehe some of them were a beer and chocolate delivery when he was in constant self isolation and really fed up )

Gym at uni was about £80 for the year for my son. So he jumped at that.

Encourage your son to talk to his dad direct and ask for things or help as they arise. Because this isn't a "we need to pay £100 per month into his bank account" role anymore. It is a he has full grant maintenance but will run out of money. So dad may be more amenable to "dad I need £60 to pay for this" rather than being asked for generic funds

@VeryQuaintIrene

Surely his university has gym facilities of some kind? Gym membership does not sound essential to me.

Students still have to pay membership fees for university gyms.

@Tevion28

He gets £3.331 tomorrow £2592 is due in rent on the 8th October. He doesn't get another payment until 10th January of 2022 of £3.331

That's 739 leftover, not 540.

My household income is only 34k and my son is in a deficit of several hundred pounds when his accommodation is paid. He's worked all through lockdown in a supermarket, often doing 12 hour shifts when he could get them.I'm not saying your son's situation is ideal but it's a great deal better than ours

Sorry its not £3.331 he got today but 3.131

I found it bizarre that students lived off their parents at uni. I got the full loan

Eh? The full loan can be £5k more than what other students get. So you could say you lived off the State - rent and bills paid - and your job topped that up.

He ought to have worked over the summer! I saved about £1500 in the summer before I went to uni and that was over 15 years ago on a lower wage than he would get now.

If he doesnt work in holidays he'll need a part time job in term time. Most students work.

Oh and gym membership is a luxury that isnt needed. Hardly anyone had one when I was a student. You can go running for free.

Annoyedanddissapointed

Fyi unies usually have pretty cheap gyms for use by students“

I thought this the norm to, ours is free. It’s not all bells and whistles like private gyms but it will do the job.

@Tevion28

He didn't work over the summer as he said he was off to uni and would have to leave anyway and will until he gets to uni and get one

This is a bit short sighted. Working during breaks is the thing lots of students do to prepare for the expenses of next term. That way they contribute themselves. It also shows willingness to work.

Tell him to start applying for jobs now. See how much he will earn and then top up to cover food. If you cannot afford much they he will need to work more hours.

It’s not really 3 months though as he will presumably be at home for a time over Christmas

What's his plan to make his finances balance? Has he looked at the numbers at all, or is he assuming you'll bail him out?