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Higher education

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

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Original poster

Annual costs of University

26 replies

mumblechum1 · 30/06/2012 07:47

Does anyone have a link to a budget for the costs of living in Uni for the first year?

I know they can borrow part of it (up to £3.5k in ds's case), but that won't cover even the accomodation much less anything else. So does anyone have any idea of what it costs for everything, ie books, transport, food, entertainment etc etc?

Thanks

OP posts:

IShallWearMidnight · 30/06/2012 08:00

DD gets the full loan, and we give her £200 per month, which she seems to be managing on. But the contract for her house for next year runs for 12 months so we may need to help out a bit more over the summer, depending on what job she can get next year.

outtolunchagain · 30/06/2012 08:17

We are paying ds accomodation ,roughly £4000 and the plan is that he will live off his loan which will be about £3500,I am told this should work OK but we are going to getter detailed once results are in

HeadsShouldersKneesandToes · 30/06/2012 08:20

It will vary from city to city - most universities will have a student acomodation and services web page which lays out a typical annual budget - typically £6.5k-£9.5k but it will vary massively depending on local accommodation costs and can be more.

drcrab · 30/06/2012 09:35

I would add also that it depends on the student's habits eg lots of drinking and partying etc. will he be in student accommodation that's self catering or full board?

PattyPenguin · 30/06/2012 11:03

I second having a look at the website of the university your ds will be studying. The one my dd is going to suggests a minimum of £50 per week on top of accommodation and course-related costs (it's in a small town).

You'll need to check what's included if he'll be in accommodation run by the university or a private company e.g. Unite, as they can vary a fair bit. In my dd's case, her college accommodation includes water, gas, electricity, internet access and basic personal effects insurance - her phone, laptop, camera will have to be covered separately.

threeteens · 30/06/2012 11:13

Our DD will also just get the minimum loan - £3500.

We will pay for her accommodation (£5500 - self catered hall - I've had to take on extra work to make this possible) and she will use her £3500 for food/ toiletries/travel/ books/ stationery/ going out etc etc. We've had a look together at her costs and I'll help her make a budget before she goes but she pretty good with money so I'm not worried about her blowing it all in the first week.

We will continue to pay her mobile contract though.

She plans to work when she comes home during her holidays (she's had a part-time job in a shop since she was 16 and they've said they will always have her back) and she will save this money for big purchases like a festival or a university ski tri or a ball ticket or whatever.

Original poster

mumblechum1 · 30/06/2012 14:53

All this guff which keeps being trotted out about Uni being free at the point of delivery is so daft; unless your dc can live on fresh air for three years, inevitably the parents will end up footing the bill.

DS should be able to scrape together about £1k from his earnings over the last year and of course we'll contribute but want to see that he's making an effort too.

Thanks for all replies.

OP posts:

fussychica · 30/06/2012 15:33

DS manages on £80pw during term time after halls accommodation paid. £80 covers everything (food, haircuts, contact lenses, entertainment etc) except fares home & mobile contract. Have to reassess from September as will be in a private flat and will have to pay electric, gas, internet etc which he hasn't had to think about before. Mind you his money coming in will be almost the same so he won't have much to play with! Lots of his friends spend way more and the more they are funded by parents the more they spend.

duchesse · 30/06/2012 15:57

DS has opted to use his student loan allowance rather than his fund set up by his GM specifically for university, to make sure he doesn't overspend (his decision). He reckons he spends about £200/term than the student loan including bills but excluding rent. He's been living in digs and his utilities bills add up to around £100/term, so he's actually overspending on day to day living by £100/term. He lives like a monk, and doesn't spend a single unnecessary penny but it's still more than his loan.

kingprawntikka · 01/07/2012 14:19

My son is eligible for the minimum loan amount. We pay his accommodation and he lives off his loan. He has just finished his first year and has managed to save about £1200 of his loan. some of that will be eaten up with socailizing in the summer break but hopefully most of it will be saved. He eats fairly well( is self catering) goes to the laundrette once a week and buys books. He tends to walk places rather than get the bus and doesn't really drink much. I do send some food back with him each term.

boomting · 01/07/2012 18:31

IME the loan and grant (and bursary, provided by the university) that is given to those on those on the lowest incomes (i.e. where parents aren't expected to contribute anything) provides a useful guide as to how much is needed. I've always managed to live off that much, whilst supplementing it with some holiday work.

A lot of things that people spend money on whilst at university aren't actually the costs of going to uni, but the cost of living. Wherever people are, they will still eat, use transport, use hot water, go on nights out etc. which means that to some extent university is cheaper than it first looks.

Loshad · 08/07/2012 18:24

but that still has to be funded boomting , and those costs (eating/hot water/shared lifts in same direction) are much greater as a unit of one, than as part of a family

goinggetstough · 08/07/2012 22:38

boomting I have just checked the figures and a full loan and a grant would give a student 7125 plus a university bursary from the national scholarship programme of 1000 pounds per year. So a potential total of £8125. Data from a university website.
So allowing for accommodation of 4800 that leaves nearly £70 per week. So it is no wonder you can live on that. It would be more if you only count weeks at university. The problem is that if your DC is on the minimum loan, there is a great amount that has to be made up by the student working or the parents. Not all of us have that deep pockets even if the Government think we should.

Bossybritches22 · 08/07/2012 22:52

Just doing the rounds with DD1 looking at Uni's so looking hard at finances as I'm a LP on low income.

The National Scholarship Programme is doing £1k bursaries as going said but also there should be a one off sum of £6000 allocated to off-set fees in the first year for those earning under £25K pa.They are waiting for the rubber stamp on that.

My DD will have to get a holiday/PT job while at Uni, & is starting now to save for next year. Not a bad habit to get into IMHO !

goinggetstough · 08/07/2012 23:01

I may be disagreed with here but I don't think there should be a reduction on tuition fees for anyone regardless of income. I think that there should definitely be suitable amounts for living expenses etc but not the actual fees. At the end of the course all students will have the same degree. I see no reason why one student should have to repay £6000 pounds less back than another student as no repayments start until they are earning a set amount.

TroLoLoLo · 08/07/2012 23:12

My DS doesn't drink alcohol, (because he doesnt like the taste of it not because he disapproves ) he says it saves him an absolute fortune. He gets £80 a week after accommodation costs and he manages to save quite easily.

JustGettingByMum · 10/07/2012 07:24

Going gets tough -- I agree with you, but i expect others will disagree.

FallenCaryatid · 10/07/2012 07:30

Mine applied for both loans, tuition and maintenance, and she has £1,000 a term that we saved. She's not coming home for the holidays, got a room in a shared house and is very good at managing money.
She's got to the end of her second year and barely dipped into her overdraft. Not touched her credit card at all.

goinggetstough · 10/07/2012 12:16

But Fallen going back to the OP's question how much does your DC actually live on after accommodation and bills are taken out. You say your DC got a maintenance loan but that is a varying amount depending on your income and if they receive a full loan then they are possibly entitled to a non- repayable grant and other financial payments from the university.

Mumblechum After her rent has been paid my DC has £40 per week and earns £20 which she uses for driving lessons. Her food costs are approx £15 -20 per week. If your DC is sporty don't forget to factor in club annual fees, Athletic Union insurance, sports pass and match fees if their team plays in a local league.

For books look at ebay and amazon market place. Do check though which edition is being recommended on the reading list as we found surprisingly it is not always the newest! Most departments also have book sales at the beginning of term.

FallenCaryatid · 10/07/2012 12:24

I'll ask her if you like, I didn't sort it out she did.
We have a combined income of around £60,000 so I doubt she got any freebies.
Her rent of a room is £270 a month in a student house, but it's a 12 month lease.

goinggetstough · 10/07/2012 14:10

Wow, that is a low rent Fallen. My DC has to pay £370 per month without bills and that is the average for the town she is in. Last year that price came with mould and damp too so it wasn't a great house. However she survived. I think most student tenancies are for 12 months.

My DS is trying to create a budget for himself for when he starts. How much money do your DSs spend on food per week?

FallenCaryatid · 10/07/2012 14:12

It's without bills.
She spends around £20-25 a week, heavy on the steamed veg, rice and fish. Plus a significant amount of fruit and chocolate.
Hates take aways but enjoys a nip or two, usually vodka.

Bossybritches22 · 10/07/2012 21:59

going so the fact that I'm on a low income & struggling to support my family as a LP means we shouldn't accept govt help?

My daughter will be getting a PT job,term time & a FT job in the holidays, if she can get anything.

The interest accrues from the April after the loan is paid out so although repayment doesn't start until after graduation/or when earnings hit £21k, the debt is accumulating all the time. Anything we can get to reduce that I am going to take, sorry if that offends you.

goinggetstough · 10/07/2012 22:19

Bossy it doesn't offend me at all. If your DD is offered a £6000 reduction on her first year of fees she would be mad not to take it. What I was saying is that I think it is wrong for the government to give fee waivers as when our DCs have to start paying the tuition fees loan back they are independent and their parent or parent's income is irrelevant. I am not querying in any way the maintenance loan and grant as I appreciate that is vital.
My DC too have part time jobs in term time and a holiday job.
So let's just agree to disagree!

Bossybritches22 · 10/07/2012 23:33

Thanks going ...actually I agree with you in principle (& it might not yet come off)

I'm one of those who never qualifies for help, always working just too much to qualify for most things but not enough to really be solvent, just the way it is I accept that. So it's a novelty to think we might actually be eligible for something. And I'm under no illusion that even after qualifying, my daughter will be financially independant. We can but hope!

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