Student loans not rising to manage rents increasing

[B00kmark6525]

What are families supposed to do?

£400 rent shortfall this term when we’re already having to pay £300 a month so he can eat. It’s a grotty tiny terraced shit heap with mold up the walls. The loans don’t cover living expenses, now they’re not covering rent.

We have 2 other children. What do they expect families to do?

Yep I’d be happy to pay more and for dentistry, a functioning NHS, non crumbling schools….

Equality in education is hugely important. We need our students and the qualifications they get. What we don’t need is even more of a devide between the rich and everybody else

"Government to lose money on all student loans – even those repaid in full | Student finance | The Guardian" https://amp.theguardian.com/money/2024/jan/09/government-lose-money-student-loans-inflation

mrsm43s

He needs to be able to borrow more, end of. Bigger loan means less of a shortfall between his rent and what he gets.

I don’t think you realise though OP the current system does aim for equality. It allows students with the lowest incomes to have MORE financial support to get to uni, and ensures that those who need the support less are entitled to less.

The government is, it’s the student loans. Lots of students work part time, ok he might have masses of work, but others manage a couple of nights a week, one day a weekend whatever.

any not sure if you have answered as I haven’t read the whole thread but £300 on food a month! He needs to start looking at what he is buying

He could borrow more, privately from a bank, as all adults do when they need more money for something. He would just have to pay it back, as all adults do.

Basso thank you for that

No he needs a better student loan system from a government that should know what it’s doing
but as with many things- doesn’t.

Mrsttcno1

Costs of living have risen. This is about all students having a government that recognise that. Stop trying to divide and conquer. All
loans need to go up .

My dd gets £8500 and that is sufficient to cover rent, living costs and more.

Why is it just the government’s responsibility though?

He can get a job at uni or he can get a job in the holidays and save that to cover uni (as all other students do), he could also take out a loan privately, he could transfer to a local uni and get rid of the cost of accommodation altogether.

There’s options. If he wants to move away for uni, he does have to take responsibility for that cost.

Student loans are going down and down in value. Any government that can’t rectify this is not doing its job properly. As with many things this government isn’t doing its job properly.

Some honesty from the government wouldn't hurt. People. Red to plan years in advance if they have a child who for whatever reason can't work. When the loans were introduced they were meant to take the place of the grants but they no longer do. The problem is there hasn't been a campaign to highlight it to the general public. Lots of universities are massively oversubscribed. The government doesn't care at all about the ND kid doing his best to get through his degree. They'd rather he was pushed out and an NT kid who can work takes his place.

Has he looked into hardship funds at the university, they will usually have some funds available if students can’t afford to live.

He needs to get a job!!
What course is he doing?
There must be supermarket night shifts, early morning picking for online groceries, bar work, Uber eats or deliveroo. Even 8 hours a week will make a difference. The turnover in those jobs is high so he just needs to keep applying.
My niece studied vet medicine (intense 5 year course) and worked Fri & sat night shifts in a supermarket (20 hours a week) right up to final year. Plus adhoc paid work on farms through placement contacts.
I worked full time whilst studying vet nursing (3 year course with full time placement)

Of course you're right. The country has gone to pot.

I think those of us with young kids need to think the American way and start saving for their education now. I don't think (although could be wrong) that it's ingrained in new parents to do this. I always thought loans and pt jobs would cover it.

I agree that linking loan amounts and thresholds with inflation would be reasonable. The expected parental contribution would also rise in line with inflation.

I feel very frustrated with middle/high income parents who disadvantage their children by failing to budget to give their children the required top up.

You keep talking about the government not doing it's job properly. But actually it is you failing to give the required parental top up that is leaving your DS short. If you were topping up as you should be, he would be financially OK with more than enough to pay his rent. By failing to budget and plan for this I would argue that actually you have failed to do your job as a parent properly. There isn't enough money in the pot to give max loans to high and middle income families who have had 18 years to plan for this. The money that is there needs to be prioritised for low income households.

How does that work tuition is 10k?

Reading the article in the Guardian student loans are frozen for the foreseeable future

They could actually change the whole system to make it fairer and get more money back. The whole system needs an overhaul. It's very unfair as is.

Gotta say I increasingly question whether a degree should be the default choice. Sure, it's probs necessary if you want to be a CEO or senior office bod. But for the average Joe? Possibly not always.

The average graduate salary is apparently £33k (highest I've seen is £38k average). And that's not the starting salary, that's the average graduate salary full stop! My partner's brother drives a fuel tanker and makes £65k. Granted it's not a job for everyone but it cost him a few grand and less than a week's training to put things in perspective. It's crazy to think the average graduate salary is half what he earns and cost tens of thousands to obtain. Prior to that he drove the smaller trucks for Biffa and made around £50k (including overtime) for collecting cardboard from businesses.

Tradespeople also make about £10k on average more than graduates and statistically become homeowners a few years earlier. I don't think this was always the case so maybe social attitudes haven't yet caught up to the reality of things.

Exactly. So the Russell group universities in big cities will only be accessible to students with rich parents or those already living in that city. Social mobility going backwards.

How comes you didnt start saving up for his uni costs since he was born? Why should other people fund your children? Dont you think they already pay enough tax as it is.

What stopped you even ousting £50 pm aside? You seem to find £300pcm now even if it makes your life more difficult?

When you chose to have a child did you not consider the compromises you would have to make the hardship it might add to your finances and so on? Everyone knows children costs money.

I just wonder why its everyone else's fault and you take no accountability or responsibility

Yes

You don't pay the fees, it's covered by a separate loan?