How much money do students need?

[bevelino]

Eldest dd will be going to uni this year and has chosen catered accommodation. Tuition fees and accommodation costs aside, how much extra cash will she need to live on?

A friend gives her Dd £250 per month, another gives £500, and another gives nothing and says they expect dc to get a job. Dd is unable to work as uni frown upon students working during term time. I have to budget for 4 dd's (triplets) at uni at the same time and this is a serious issue/question.

[BigGreenOlives]

Some universities give scholarships to students with 3As, for example Kent give £1000 per annum.

[Leopard12]

Buttercup, the student loans are paid back like tax on over 21k so if you don't get a good job it's not an issue and wiped after 30 years, definitely stay away from other loans though! I'd say £200-250 per month will cover it most months I only spent £120 but never go out

[superherostrawberry]

Re: grants, yes they've been done away with for most universities, but Oxford and Cambridge, if this is where OP's DD is going (I realise this is entirely unhelpful if not, sorry) run on a collegiate system and each of the colleges is independently wealthy

The colleges within the university (each student is attached to a college) have an entirely separate system of finances, so can offer bursaries, grants, loans and scholarships on a different scale from the university main, and the national norm. Some colleges are more wealthy than others, so they are all different - and some of them are more generous than normal when it comes to considering what a low income household is. OP if DD is headed here, it's very worth your time to have a conversation with the college bursar to check what's available.

elephant students to go to university to study, but do you honestly think that it's reasonable to go 3 years without going to the gym, joining a sports team or society for a hobby, going for a pint once or twice a week and/or attending a summer ball once a year

Yes, they're extras on top of basic food and shelter, but hardly wild times... gym, pint and maybe a dance or rugby club... not really irresponsible ways to spend

[superherostrawberry]

*do go to, sorry for typo

[Cakescakescakes]

Don't most people get a loan? My parents paid my fees (about £750/year) and I used my loan for rent, food and living. Mum sometimes gave me a tenner or a few groceries at the weekend. And I had 2 jobs. A Saturday/holiday job in a shop and I worked 2 afternoons a week in a cafe. It wasn't Oxbrideg but it was a top 10 Russell Group uni. It was the only way to make ends meet.

[superherostrawberry]

Yep, everyone gets a loan - one loan for fees and another maintenance loan usually about £1k per term - but depending on the cost of living in your city of choice, it's sometimes only enough to cover accommodation and not day to day living costs/food

[FannyFanakapan]

I think it depends on the type of course being studied and the number of contact hours - DD is in a high contact hours course and so we do not expect her to work - she is in self catered so gets 250 a month - this to pay for food, books, entertainment. However, her student loan did not fully cover the rent at halls, soshe has needed to reserve some money to top up her rent, so realistically that took it down to 200. She does run short at times, but can dip into savings. Kind uncle spotted her 50 quid last week when she was skint ...

[Noitsnotteatimeyet]

Ds is just coming to the end of his first year at university - among his friends the standard arrangement seems to be parents paying for accommodation and the student living off the maintenance loan. He worked during the summer before he went and so far hasn't had to dip into those savings. Ds eats a huge amount (gets through a lot of calories doing sport) but isn't a big drinker so it seems to even out. We've told him we are expecting him to work through the summer again

[GetAHaircutCarl]

Every student is entitled to apply for a loan to cover living costs.

Unfortunately, this is means tested and sometimes does not cover accommodation costs, let alone money to live on.

Students tend to be a frugal lot, but they can't live on fresh air.

[GetAHaircutCarl]

As for the issue of working.

Well, a good degree should require a lot of hours of work. Contact hours are the least part of it. A student needs to leave enough time and energy to study. This should not play second fiddle to paid work.

In any case, there are often relatively few jobs available, especially to young people who will be leaving the city at the end of each term. Term time jobs working for the university are like gold dust.

[FishWithABicycle]

The maximum loan amount doesn't even cover rent in some university cities so extra is going to be needed somehow. There's always choices to be made though. OP's DC could get by with no extra money at all if they rely on library books, have no social life or phone and don't buy any new clothes ever. Meanwhile other students will be going to cocktail bars and arranging ski trips as well as being able to join the optional field trip to the Galapagos Islands because their trust fund is generous. Most universities will have students on a wide range of incomes so the amount "needed" is more a question of what lifestyle level each family considers appropriate rather than some objective fact.

[Natkingcole9]

My parents gave me nothing. I've worked since I was 14 and I'm on my second degree. It's hard but it can be done. So jealous of those students who didn't have to work. If you can afford to help your kids definitely do it, I will if I'm ever in the position.

[GetAHaircutCarl]

I think there are some basics that most people should be able to afford.

Hair cuts.
Clothing.
Travel costs.
Contact lenses/glasses.
Phone.
Internet access.

I bet there are more.

The thorny issue is usually social life. Personally, I think it's important that everyone, including students, have a life outside their work, even a cheap one.

[hayita]

and/or attending a summer ball once a year

When I was a student at Cambridge lots of students (including me) just couldn't afford to go to the balls. From what I can see the same remains true nowadays. I don't think attending a £140 ball (with additional costs for dress etc) once per year is actually something all Oxbridge students do. Once per three years, perhaps. Not every year.

One thing I see sometimes amongst my tutees is students getting into friendship groups with very varied family backgrounds (a good thing!) and then feeling pressure to go out/go on expensive trips with richer friends, and spend more than they have.

[bevelino]

Dd is hoping to work through all the holidays and will save. Do you think it is ok to monitor her finances and spending during the first couple of terms or is that OTT?

[Shortandsweet20]

It massively depends on your household income. If it is low, your dd will get the maximum loan which is normally enough to cover accommodation and some living costs. My friend was getting nearly 3k a time, whereas I got 1k, which was eaten up quickly by rent that was £107 a week! I have just finished my 3rd year so these are very recent costs!

Is it Oxford or Cambridge she is going too? I would maybe monitor from afar, the first few months at uni are exciting, you have freshers, all the societies etc.

Are all 4 of you dd's going to uni at the same time?

[ThroughThickAndThin01]

We pay accommodation.

The loan, plus any money they get (jobs - rare - birthday money) seems to stretch.

I'd only monitor if she would like you to and would find it helpful.

[FoggyMorn]

Buttercup,
My ds1 has recently graduated from a uni which required him to sign an agreement not to work (other than in the long summer break), and with good reason- not just due to pressure of work, but also because lectures, visiting experts etc quite regularly (at short notice) taking place in the evenings or weekends.

Many people have to fund their dc at uni because dc with higher earning parents don't get full loans... And the loans don't cover much... Uni halls will swallow up most of the loan.

Our DCs get £10k ( London) and £6k (Edinburgh) accommodation paid by us, and Oyster card/travel costs. They are only entitled to the minimum loans (Scottish residents, minimum loans are less than under the English system). As parents, we are expected to make up the difference between minimum and full loans (which we do, and more).

[bevelino]

Shortandsweet, all 4 will be at uni at the same time. When we knew we were having triplets dh said, "you do realise we'll have 4 at uni at the same time". That time is just beginning!

[MadisonAvenue]

Our son is just coming to the end of his first year. He has a maintenance loan, although wasn't entitled to the full amount, and this covers his accommodation and leaves him some left over for books, food etc and he's out with his uni friends a few nights each week. He also has a weekend job which pays pretty well so he's quite comfortable and as he's at a local university he can continue with his job over the Summer.
Only once have we had to give him money and all he asked for was £20 at Christmas as his loan (paid at the start of each term) had run out for that term and he needed some cash until he was paid from his job later that week. Apart from that I pick him up a few items in the supermarket.
He's actually managed to save enough to book himself a week in New York this Summer.

[MikeHat]

I took the approach with DS1 that we would work it out as the year went on. The first term can bring a few extra expenses such as joining clubs. I tried to make sure he had enough to make the experience enjoyable within reason.
Not at Oxbridge but his course is very intensive. In his first year his contact hours were 25+ per week and study outside much more than that. In the run up to exams he works every hour under the sun. No way he could have held down a regular part time job. None of his flat mates works either and they are not a privileged bunch.

DS2 is going to a much less intensive degree course and I think he may well find he can do some work. Having said that, jobs may be plentiful in some areas but by no means all.
The maximum student loan for someone who's parents are on a low income is £8200. That seems a fair starting point?
So, for example, if they get £6000 loan because of their parental income then it's expected that the parents should top it up to £8200. I'm doing roughly that for the two I have at uni.

[Emptynestx2]

Our DS is in his first year in catered. His loan doesn't cover the full cost though so we pay him £60 per week plus fares home. We have told him he needs to earn some money next year as he will have food to buy too. A couple of nights babysitting or sports coaching shouldn't Interupt studies.

[Lightbulbon]

If it's catered she won't need that much extra.

Is it a campus/town where she can walk everywhere? Then no transport costs? What about trips home/end of term? Who is paying for that?

Books-does she want her own or is there a good library?

Phone-continue your current arrangement.

Clothes- students don't need expensive clothes so continue as now.

So all she really needs is socialising drinking money. I wouldn't contribute towards that...

[blueskyinmarch]

I gave DD1 £70 per week in non catered accommodation. Her gran gave her an additional £60 per month. I know she bought decent food on this amount of money.

DD1 is going to catered halls this year. I am not sure what to give her. Probably £50 per week although that may be too much.

I think it okay to start off with an agreed amount then tweak it as you go.

[AtiaoftheJulii]

I pay accommodation (not catered) to remove variations from year to year costs, and different costs around the country, and then they live/will live on their loans.

This has worked fine for dd1 this year - she had some money saved from a job last summer, which has paid her deposit for next year's house plus a few extras, and she definitely needs to get a job this summer too, even if it only funds her social life over the summer!