To ask what your provision is for your DC uni?

[Bluffyslummers]

I see it a lot on here in the debates of can I afford another child, especially after 2 children.

No one of course knows if their child will go to university or what university tuition or funding will look like, but if your saving for your children later in life, what does that look like?

for instance for us, we have 2 children. When my eldest was 4 we opened stocks and shares ISAs with a lump sum and we put in £70 a month each. We’ve started claim child benefit too, so now pay in child benefit (minus what we have to pay back- roughly estimated of course).

if you’re comfortable sharing, I’d be interested to know what you’re saving for your DC?

the Rite of passage aspect is, or maybe con is a better word, the notion you ‘have to’ do it to ‘have the uni experience’

Of course you don’t ’have’ to do it. But it’s a very different experience compared to staying home.

I got full loans, yes, as much as I could!

Well precisely, if I was in a position my children would get full loans I wouldn't be saving anything additional (I assume I likely wouldn't be able to).

That won’t be feasible for those who don’t live in commuting distance to a university (and that has the right course).

Yes and for competitive courses like medicine, beggars can’t be choosers and students have to accept any offer they can get.

No it doesn’t - a deed of trust is attached directly to the property - nothing to do with matrimonial state. Just done one for DN to protect a deposit. Very easily done via a solicitor

Just repeating what I read here

‘In most cases, after marriage, a Declaration of Trust will be superseded by the Matrimonial Causes Act 1973.’

www.gdlegalservices.co.uk/site/blog/property-blog/the-impact-of-marriage-on-your-declaration-of-trust

Maybe, but more and more colleges are awarding degrees through universities these days but I do agree those who live more remotely will be pretty disadvantaged in that regard

Nothing at all. DS will be eligible for the maximum maintenance loan due to my income. If it's not enough he will have to work part time.

“Most” - not all

Yeah I’m not a solicitor so all I know is why my sibling didn’t get one (maybe they should’ve) and how stuffed they are now

The reality is though that there are many many universities now and so most people will live within commuting distance of one.

if that became the norm then more kids would pick courses run by their nearest university.

it works in other countries and frankly our system is broken so something needs to change

I wouldn’t have wanted my DC going to a local Uni f they could have have got into a better Uni

But with blind recruiting becoming the norm the concept of a “Better University” is likely to shift somewhat.

in places where kids go to the local university the expectation is that if you live in x you will probably go to x university.

Costs need to change. Commuting back home just doesn’t seem the same as the full Uni experience.

But cost are going up not down. We lose thousands in every Uk student we take on. We need the fees to go up to about £11k just to break even

Not all universities will be here soon as many are in dire financial straits. It will be interesting to see whether it is the local, lower prestige ones that go first ie the old polytechnic which serve the local area, or the higher prestige ones where students have to pay extortionate accommodation fees.

We have one child in private secondary school.

Some years ago when buying our house, our mortgage advisor convinced us to get critical illness insurance. It was set up to pay out the balance of our mortgage and £15k per year for 15 years to cover school fees for DS, given the assumption he would go to uni.

I was diagnosed with cancer (now stage IV unfortunately) so we have £15k coming in each year. Right now it’s not enough to cover private school fees which are currently ~£18k per year, but it’s a huge boost and will cover uni for DS. Plus there is some peace of mind now we’re mortgage free.

The DC both have savings accounts in their names, DS4 has no idea but DS8 knows about his and that "it's for important things like driving lessons and university"

They are both also eligible for EU passports so I occasionally mention to DS1 he might like to go to uni in Italy (if his premier league football career doesn't work out 😄)

They could also stay home for uni if they wanted, my brother did. He stayed home for one year with my parents and then into a flatshare with a friend he already had from school.

Costs need to change. Commuting back home just doesn’t seem the same as the full Uni experience.

Not everyone wants the 'full Uni experience', my DD doesn't. She just wants to get her degree so she can follow her chosen career path with minimum debt. Luckily we're in easy commuting (ie less then 30 mins on a train) distance of at least five universities.

The "full university experience" is all well and good if you're happy to pay for it. In some places where accommodation is expensive its costing £10k in rent and £5k to live.

If you can't afford it then it's quite possible for a significant proportion of the population to commute to a UK university. A hybrid arrangement also gives the best of both worlds. Live in halls in year 1 and then at home in years 2 and 3.

Then it’ll just be for the rich.

No, I suspect more kids will just walk blindingly into it like they do at the moment. Instead of tuition costing just under £10k per year and the tuition loan set accordingly it will go up to £11k or £12k with a larger tuition loan.

Tuition fees have to increase. Its isn't sustainable at this level.

(or universities could cut back provision but they won't do that)

The degree my DD is doing is 20% time in university. I balk at paying nearly £10k a year for that, and it seems pointless to wrack up more debt for living somewhere for such small face to face teaching time.

The nearest uni for my son’s course is 175 miles away. It’s not feasible for him to commute even in years 2 and three. If you’re doing History, English or Business type courses it’s not such a problem as every university does those. More stem type subjects are not so easily available at all universities.

My son has already resigned himself to a lifetime of student loans but the path he wants to go on demands a degree and I’m not well off. Thankfully he should get a good career with good money (eventually) from it.