Uni accommodation rental costs?

[copycat]

DS1 has received an offer, yesterday afternoon, of a place in his third choice accommodation which is ensuite and therefore expensive at ... gulp ... £5011pa. I have emailed to request an alternative offer

DS1 is my oldest child and I am new to this; please can I be nosy and enquire how much your DC is paying for halls and how are you or DC funding the cost?

[gazzalw]

we have an income of about £50,000 (slightly under actually) and we are by no means 'rich' - we live in London and I commute and we do have a mortgage.

I think I'm going to have to try to 'squirrel' away extra money every month in anticipation.... .

I find it really strange that there's no breakdown of family expenditure other than the P60 which doesn't give any insight into outgoings of family life...

We have friends with a low income (husband made redundant although with a £70,000 redundancy package) but no mortgage (he inherited enough money to buy home outright when they got married). DW's friend actually commented that they would virtually be eligible for FSM for DD if they applied (but they won't)....what would their position be?

It's all a big risk isn't it though saving money? Suppose one is made redundant and might have to be temporarily on benefits...presumably there is no way of ring-fencing "to be used for student life" savings so that one is not obliged to spend them on living expenses....

Grim.....

Never mind the students living very, very frugal lifestyles (as we did) - I can see it will be us reliving our student frugality as we fund DCs and head towards retirement .

[alemci]

I quite agree. the rent costs are terrible. we don't have any spare cash and 2 other dc. they never do take into account other expenditure and the system doesn't favour those in the middle but what's new.

my mum, dad, dh and in laws all pay a bit into her account each month. other dd will go next year and it will be even worse as she has to pay for fees etc.

first dd gets fees paid as it is NHS and a small bursary. I hate doing the forms, it is all so intrusive.

[gazzalw]

We have one set of reasonably well-off grandparents - live in hope that one day they might consider helping the grandchildren (they only have four) out but not holding my breath!

I'm beginning to wish I hadn't read this thread - it's just another money worry ...

[mysteryfairy]

If you don't do the forms does the student qualify for the same minimum amount as if you do do the forms and are over the maximum income threshold? Our income is in six figures so assume DS1 is going to get the minimum and if the process is intrusive and/or time consuming don't really want to do it if it will make no difference to the outcome.

[QuiteOldGal]

Mystery When your DS does the form if I recall there is a box to tick if you want it assessed or not. We didn't have our income assessed even though DS could have got a slightly bigger loan because we were over the amount for any grants (about 50K, the squeezed middle like many on this thread)

As long as you tick for not assessed then parents don't have to log in to declare any income, then each year your DS will get the form for renewal back from SF and just signs it to say that it is the same non-assessed loan and nothings changed and sends it back

We didn't bother with the assessment as DS has a part time job and it has encouraged him to do a lot of hours in the holidays for more money whereas if he had had a bigger loan he might have not worked as hard.
Also i could be bothered with the faff of the forms and it means he has less to pay back.

[gazzalw]

I wonder whether there have ever been any legal challenges by parents/students to the amount offered as a loan? I really can't see why it really makes any difference - at the end of the day what matters is the students doing and completing the courses and getting jobs so they pay the money back....

Who introduced this mayhemic system? Obviously no-one with an insight into the squeezed middle classes??

[Chopchopbusybusy]

Gazza, you could put money aside in your DCs names. They wouldn't have to know about it until it's needed. Some things, like children's bonus bonds are in the complete contol of the parent until the child is 16 so you could cash them in early if you really needed the cash for yourself but they wouldn't be counted as your money if you fell on hard times and needed benefits.

[gazzalw]

Well they do have savings accounts but I can tell you there's nowhere near enough to cover them for a year's accommodation let alone three or four!

I'm beginning to see quite why youngsters live at home with their parents - everything to do with necessity....

Can also see why we will be advising DS and DD not to stay in London for their degrees.......

Thanks for the advice though Chopchopbusybusy....

[pinkbraces]

Im absolutely incensed with this system. Last year my DD was in London at a very prestigious Art School doing her foundation year - I almost prayed that she wouldnt want to stay there for her degree, as I knew it would be almost impossible for us to afford for her to do so.

She didnt like London and has chosen to go to another Uni but I hate the fact I was willing her not to want to stay.

Why cant she have access to a higher loan - the next few years are going to be such a struggle and its just wrong they have so many of these pressures rather than just focusing on Uni.

[gazzalw]

To use DS's tween speak "it sucks!"

[gazzalw]

Well it skews the system really doesn't it....? It will end up with all the rich kids at the 'expensive' universities and the poorer ones seeking out cheaper options ;-(.

I despair.....

I somehow feel that this is no fairer than the original grant system...by all means give those from poor backgrounds the full 'bursary/grant/loan' but don't discriminate against those whose parents might not be able to fully top up what the students are loaned?

[Chopchopbusybusy]

It's not really the 'poor' students who are worst off though because they can apply for the full loan. In our case DD has the minimum loan because of our income and we have to top her up. In two years time we'll probably have another DD at university too with a two year overlap. I can't see how that's fair.

[Helovesmehelovesmenot]

My son is off to A London University and his accomodation is £170 per week, his maintenemce loan will just about cover this and he will have to work to feed himself and live from day to day if he cant find work he will have to come home, we are not paying out anything, he gave up a very good job to go and "find himself" in London and I am sure he will being that skint! Hope he gets on OK but I can only see it going one way I am afraid.:(

[alemci]

also if it is a loan and it is paid back then why do parents have to top up? why can't the student borrow the amount they need?

the cut off for deemed to be well off is so low isn't it and especially if you other dcs.

my dd worked some of the Summer and all the extended family give her some money

[madeofkent]

We are really worried, our son has to go into private halls as there is nowhere left to rent in Cambridge. £160 a week for a tiny box. It comes to twice his loan so we are going to have to pay the other half, plus food. So as we are close enough to visit him every few weeks, we are going to do his dry goods shopping as we can buy it far more cheaply than he can and just give him £100 a month to buy veg, meat, milk etc. and if he has any left over for going out he will be very lucky. I think it will be good for him. He wants to be a composer, so let's face it, he is going to starve for the rest of his life anyway!

[holidaysarenice]

harbinger your dd's maintenace loans are different as u have two at uni. They call them 1 and 2. When 1 applies it is based on 2 parent and 1 sister. Then 2 applies based on 2 parents and 1 sister at uni. Different amounts.

In our case the elder got more money when the younger went to uni. We fought it out and shared the money.

[BlackMogul]

The maintenance loan goes down every year and costs go up!!! DD2 in London and hall is £8600 pa and no food. If you can get £5000 anywhere in the country, take it. London maintenance loan is £4990. We do not qualify for extra as income too high. The max available was just over £7000 but you obviously have to be pretty hard up to get that, less than £20000 pa I think.