Student Finance, does this sound about right?

[haggardoldwitch]

DS off to Uni this year, DD next.
We won't be able to claim any extra funding.

DS will take out £9K loan for tuition fees, £3.7K loan for maintenance to live on and we will pay accommodation costs.

He has a part time job that he'll hopefully be able to return to in the holidays.

We are comfortable, but I'm aware that when they're both at Uni the housing costs to us will be significant.

Sounds about right . Best advice is to save as much as possible now and aim for cheaper accommodation if it is available.

En-suites, mood lighting, views and large catered rooms are great but not strictly necessary. If he learns to cook and takes a cheap small room he will save an absolute fortune. Students can get small part time university jobs eg. bar work, tour guide.

If you are worried about him over spending you could always flip it and get him to pay the accommodation out of the £3.7K loan and then drip feed your money for living expenses through the year.

Yes, this is the situation we are in. My DD is surviving perfectly well on £3.7k and even saving money without working (but she doesn't drink very much).

We paid for the self-catering accommodation but I agree that the drip feed allowance is a good idea for those less inclined to budget properly or those that enjoy partying - simply to avoid the spending of term ones maintenance loan in the first two weeks of Freshers (which does happen).

Sounds about right.
I have one in his first year and DC2 in Y12 so will have an overlap. They will both need our subsidy throughout the time they are there. There was a very long thread on here last summer about how much they need to manage on while at uni.
As it's MN there are opposite extremes ranging from -I never got any help, they are adults they will have to get jobs while at uni, to I don't want them to scrimp and work and potentially do less well in their studies.
DS1 has a very small job he comes back to in holidays but his course is very intense, he has very little spare time and neither he nor anyone else he knows, actually work part time at uni.

Great thanks, it's good to know we're on the right track.
DS was rather impressed with the swanky studios in halls, if he has to pay for it himself out of his maintenance loan he might be more realistic.
Monthly allowance seems a good idea.

FWIW DS is spending far less than expected but he is frugal by nature.

DS gets minimum and has to use this to pay his rent he has very little left over, so we drip feed (weekly on a Monday) his allowance from us - if we gave to him monthly, termly then he would spend it in one go!

We've had 2 at uni for 4 for the last 5 years and have another 2 years of penury. When I asked at one of DSs finance talks I was the presenter laughed and said I feel your pain and the same for anyone unfortunate enough to have twins.

What really annoys me is DH has/is paying maintenance for his DCs until they graduate which covers their accommodation but because SF is only based on their mum's income (which is 50% higher than mine) they get grants and bursaries but because it is based on our joint income my DCs got/get the bare minimum. Thankfully DS lived at home otherwise I don't know how I'd be able to pay DDs accommodation.