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Higher education

Talk to other parents whose children are preparing for university on our Higher Education forum.

Original poster

Funding your cherubs through Uni how?

191 replies

Piffle · 24/02/2012 22:11

Ok
Do how are your Uni starters being funded?
Specifically if they can only get the £3575 amount of maintenance loan?
We are really struggling to budget everything :(

OP posts:
goinggetstough · 24/02/2012 22:57

The Govt assume that if your DC only qualifies for the minimum maintenance loan that you will top up the difference. In reality they need to get a job which is not always easy depending on the number of lectures they have and where they are at university. The summer is a good time to earn money for the following year. We do a combination of the above as when my DD was a fresher, Hall fees (catered) were nearly £5000 (loan was less) and that was 2 years ago!

Tranquilidade · 24/02/2012 23:01

We pay accomodation costs for ours then they live on their loan.

mumblechum1 · 24/02/2012 23:02

DS will be borrowing the tuition fees, DH will pay the accommodation and I'll pay for his food, clothes spending money etc because I already do so, so it won't be any worse in terms of my own budget.

The accommodation is an extra expense but DH can afford it.

fbnomore · 24/02/2012 23:04

they take out loans, and get summer jobs.

Original poster
Piffle · 24/02/2012 23:07

Ds 1 is going to Bath
He needs to earn £3k after what we contribute

OP posts:
Original poster
Piffle · 24/02/2012 23:09

Ok so budget it about £8k that's frugal ok no social at all
Loan £3575
Big gap when we have 2 young kids and I can't work

OP posts:
southeastastra · 24/02/2012 23:11

when my ds goes (hopefully in sept) he's on his own i'm afraid!

webwiz · 24/02/2012 23:26

Piffle DD2 is at Bath and she won't need anything like £8k. Her loan plus what we give her will be more like £6k and she is managing to have a social life and to get taxis back up the very big hill because they are all too lazy to walk across the campus from the bus stop Hmm I have two DD's at university and they manage fine on about £200 a month living expenses.

Original poster
Piffle · 24/02/2012 23:26

Bath is effing expensive
He has insurance York which is much less cost wise

OP posts:
Original poster
Piffle · 24/02/2012 23:27

Web wiz are they In halls?
We are £200 a month supportive

OP posts:
webwiz · 24/02/2012 23:28

Oh and Bath has a very long summer break (short holidays at Christmas and Easter) so plenty of time for summer work.

Ponders · 24/02/2012 23:28

are you sure about the amount of finance? the minimum is with household income of £60+K

webwiz · 24/02/2012 23:36

DD2 is in halls and the loan doesn't quite cover the cost of it so we pay the difference and then pay the £200 a month between September and May. It will probably cost more next year when she is in a house but we make sure housing costs are covered and then give the £200 in addition to that. DD1 is studying abroad this year and is in a shared apartment so her living costs are different this time round.

Ponders · 24/02/2012 23:44

DS2's halls cost about £4.5K (42 weeks, around £107pw) & his finance this year is about £5.2K so he has a bit left over; we gave him £50 a week last term & he has got a part-time job now at about £50 a week so we're topping that up enough for him to save a bit towards summer trips

Next year he'll be in a house, rent is only £60 a week, his finance will be a bit less but he will have more spare even with bills

How much are halls at Bath??? Shock

Original poster
Piffle · 24/02/2012 23:46

Yes we are above income limit that but have an SN child at home and high living cost.
I think he will find a job at some point, he will be doing a Maths degree if that means much for work time...

OP posts:
Original poster
Piffle · 24/02/2012 23:47

Bath halls are 90-130 UN catered

OP posts:
Bossybritches22 · 24/02/2012 23:47

Ask the Uni burser, many unis have hardship funds & individual burseries for those from low earning families.

Worth an ask?

webwiz · 24/02/2012 23:48

Only the same as your DS's Ponders if you don't go for the luxury optionsSmile DD2's house will be £85 a week and then bills on top of that but thats from 1st August.

supersalstrawberry · 24/02/2012 23:49

This reply has been deleted

Message withdrawn at poster's request.

Original poster
Piffle · 24/02/2012 23:50

We earn way above what hardship offers
It's not real hardship if I'm honest
I'd not want him to put someone seriously in need out of money
All I'm asking is if you don't have a disposable income how do you find your bright aspirational Uni bound child.

He could choose York instead, it's much cheaper!

OP posts:
jollyoldstnickschick · 24/02/2012 23:51

My ds lives at home and travels to manchester uni on bus,he has a tuition fee loan and a grant and he has managed ok so far,mind you he doesnt drink,smoke or go clubbing .....all he does is buy books and clothing.

webwiz · 24/02/2012 23:51

DD2 does Maths and its a bit full on. She'll be trying to get some work over the summer through a local temp agency. DD1 got several weeks of work in a factory that gave her a bit of extra cash.

Original poster
Piffle · 24/02/2012 23:52

Webwiz thanks this is really helpful

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Ponders · 24/02/2012 23:53

(our combined income for the 10/11 tax year was around £52K; higher than 09/10 but DS2 will still get £4.8K)

webwiz, I haven't seen the £60 house he's going for but he's quite happy with it - I hope it isn't awful Confused it's quite small, just 4 of them. DS1 has been in 2 houses for 6 & they've cost more. It will be from some time in August too, not sure when

mycatsaysach · 24/02/2012 23:53

ds will live at home and go to local uni - i think this what quite a few are doing
loan for fees