To think it's going to be a struggle to send DC to university now?

[coffeerevelsrule]

DC a couple of years off this now but it's beginning to worry me nonetheless.

My finances are as follows: I'm divorced and earn about £52k. Ex husband contributes nothing and I have to pay him £10k when youngest child reaches 21 as part of our divorce settlement. I have just over £21k in savings. I usually manage to save about £100-£200 per month - this is quite a bit less than a couple of years ago just due to rising costs and having to replace my car when it died last year. My mortgage is currently just under £700 per month and I also have about £5k other debts (low - 0 interest - unavoidable at the time).

Martin Lewis website said last time I checked that I should expect to contribute about £7k per child per year. This would have been a struggle anyway but now looks pretty much impossible. My mortgage is fixed for another couple of years and my fuel until next year. Both will rise massively just as dd1 is due to go to uni. What the fuck will happen?

AIBU to think that if inflation/interest rates stay like this they are going to have to look again at the thresholds for parental contributions but AIalsoBU to say they won't and university is going to become unaffordable for many?

Please don’t stop your dc getting jobs. My Dh has worked in graduate recruitment for 20 years. Don’t underestimate the value of having experience on your cv over academic qualifications. They won’t get a job on just grades alone.

I’ve got one dc at uni and one off next year. Mine only qualify for minimum maintenance loan. I contribute £70 a week during term time only. Dc at uni works in a pub for £10 an hour, 15 hours a week. He has more than enough money. A university education is a privilege not an entitlement. If you don’t have parents bankrolling you then you need to support yourself, it’s simple really and makes you appreciate it more.

I think they need the maximum maintenance loan to live off so that's currently 9.5k.
So if they are only entitled to the minimum loan then that means topping them up 5k per year.
You've already got that in savings.
I think at 52k earnings they may get slightly more maintenance loan then minimum.
So I think you will be ok.
They can also try and find a job and save up and hopefully their dad might contribute too.

Sigh. You’re not helping them at all by not encouraging them to get jobs and save from sixth form onwards. On £4.50 an hour I was saving a grand and a half a year just working hospitality in the summer hols and I’m a spender not a saver. In today’s money you can double that. I hope you’ve taught them cooking and cleaning.

Maybe remind your ex that his kids will choose his nursing home...

I went to Oxford and plenty of my contemporaries worked during term time - exemptions were made for things like working in the college library or college bar.

Also the good thing about going to a prestigious university is that you can often secure well paid internships over the summer which are useful to do for your career prospects anyway.

Really tough to have a job during term time. Studying is a full time job plus all the job applications etc in final year.
However should definitely try and work before uni from 16 - McDonald’ etc and try to save up if they can. Maybe even a working gap year could be a shout. I wouldn’t want to pressure them about jobs in holidays because what if they try their best and can’t get one? Although they should try to - I worked in holidays through out my uni time. It helps if you had a job before like in retail as they sometimes take you back for the busy periods like Xmas when you come home. It’s so tough!

We wanted our 3 to be able to go away if that was what they wanted,which is was /is

You’re blaming the government, not the father who refuses to support his children???

This.
You are expected to make up the difference between the amount they get and the maximum. There is nothing to force you to do that and some parents don't.
If they are a couple of years off there is time to start teaching them how to manage frugal living at uni.
I agree it's not ideal to work at uni, mine didn't, but a holiday job is different. If they start looking at 16 at supermarkets they can get a job to come back to every summer.

I’ll have 3 in uni at the same time (includes twins) so I don’t have a spare £21k a year. I’ll expect them to have jobs.

@coffeerevelsrule
Which subjects do your kids want to study? If they are doing something like medicine or vet science, it will be very difficult for them to do much paid work outside of this. However, in many subjects it’s entirely possible for students to pick up quite a lot of work. I’m an academic and most of my students work, some probably do about 30 hours per week and it doesn’t affect their grades. They have a bit less time to socialise but they manage…. Young people have loads of energy so they don’t need the downtime that we do! Obviously, this is partly subject dependent but don’t fixate on them not working too much as it might not affect their grades at all.

The reality is, unfortunately, that there is a choice to be made: stay at home and do less paid work, or go to the Uni of your dreams and accept that you will have to contribute more financially. Don’t forget also that paid work is a valuable as it teaches them so many life skills and prepared them for what’s to come when they leave Uni. One of my students does shifts in Asda and he is a straight A student. He will probably go and work in finance in a really well paid job, but he talked to me the other day about how his job has benefitted him because it’s taught him how to communicate with different types of people, how to manage conflict, how to negotiate etc. If I was his mum, I’d be super proud.

My DS 1 worked in Tesco from age 16, got into Oxford to do PPE at Balliol college. He went back to Tesco every uni holiday, and post graduation for a few weeks until he started work. He now earns more than me and his father put together. Working in Tesco did him the world of good and the money he earned was a bit of a cushion until he got himself established in London.

Are they doing part time work now? My DS started part time work at 13 (paper round) and has always had part time jobs ... he managed to save quite a bit before he went to Uni and then got a part time job in a football club (win win if you like sport ). Admittedly he is not doing a hugely academic course but even just working (& saving) in vacations would be a sensible idea.

I have this same worry. Again my daughter has her sights set (very) high and I don't want to compromise her chances by her working too much during a levels. She is an august baby so probably won't even be able to find a job until she starts them rather than be working summer after GCSEs.

The other option is gap year to earn money before they go. Live at home, and save everything they earn to go towards uni living costs.

Plus remember uni holidays are really long so that's four months at least they can work pretty much full time .

The majority of my contemporaries worked during 6th form and university - I can only think of one for whom it was detrimental to their studies and that friend worked a lot of hours, basically a full time job, even then they still got a 2:1 from a RG university, hardly awful failure.

I think it teaches you a lot to have a part time job, not least it brings you down to earth a bit, how to juggle your time.

Agree with academic courses it can be difficult to work during term time. But the holidays are really really long..and can work full time then

A gap year is a great option, one of mine did working in fast food, but saved £10k.

Whoop makes a very good point ,., work experience is so useful not just for the cash earned ... learning to work as a team, time management, prioritising tasks etc etc. In fact the summer holiday my DS worked in a factory making PPE was a great learning experience and made him absolutely realise the importance of studying and aiming for a fulfilling career (of course he would never listen to parental advice!). He's just finished his 'industry placement year' thoroughly enjoyed it, won awards for top intern and was offered a permanent opportunity when he graduates.

Your DC can claim maintenance for university costs from the non resident parent up to the age of 25. It can be enforced. I'm not sure of the process but I remember reading about it a few months ago.

Suggestions that students can live at home and go to their nearest university always make me chuckle. Might be possible in or near the big cities but there's a vast hinterland where that's not possible, certainly not to study specific courses.
I recommend a gap year. Almost always a good idea for the student and their finances

Working a few hours a week through uni didn’t do my dd any harm. She got a good degree, a good trainee job in finance and has been earning very, very well for years.

It’ll be ok. Don’t be precious or baby them.

My dd worked on Saturdays from when she was 14 until the Easter before her A levels.

My nephew worked full time doing nights in an amazon warehouse from two days after his last A level until the week before he left for his prestigious university.

They both only get the minimum loan as my sister and I are both high earners. But our children worked because they see us working and they understand that that is something that you do.

Exactly. A good work ethic gets you very far in life.

It's not so easy to fully support yourself, pay your rent and study, that's a lot if hours. Students who work are still usually getting some support from parents.

OP can you help at all? Can your dh? If not the your child can start working now and save, could live at home and attend the local uni (if you have one) or work and save for 3 years and go at 22.at which point you'll not be expected to contribute.