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Higher education

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

Original poster

Minimum Maintenance Loan but we just cant afford the shortfall!

235 replies

JufusMum · 03/12/2019 10:07

Hi all - looking for some advice. Because of DH salary we just about fall into the bracket where DD will get the minimum maintenance load (about £4300). The fact is that doesn't even cover her rent let alone food and travel, so we are wondering what we do? I understand parental contribution but with our bills, even though DH has a decent salary I only earn a very small amount and I am not sure where this extra £4-5k a year is going to spring from. I am considering weekend/evening jobs and looking at scholarships/bursaries but most are means tested. How do "middle earners" cope?

OP posts:
StrayWoman · 03/12/2019 11:04

If you only earn a very small amount and only have 1 teenage child and lots of outgoings, then you will need to get a different job.

It's not realistic for her to want to continue an expensive hobby that uses up 2 night and 1 full weekend day while studying, if it means she does not have time to also work.

I was working 3 evenings a week in a chippy, and full Saturdays in BHS when I was at uni. It was the only way I could afford to study. My parents were on less than £40k between them, so I had to work to afford my living costs.

Baguetteaboutit · 03/12/2019 11:04

Well just get another job then Confused.

mistermagpie · 03/12/2019 11:05

Jointly DH and I earn less than your husband, we have three children under five so nursery fees etc and also have a car each. It's tight but we manage.

Based on your figures, I literally cannot see how you aren't able to manage to help your daughter out? Petrol and costs for your car and food etc can't possibly eat up a grand a month?!

Trewser · 03/12/2019 11:05

Or buy a much more economical car!! I drive all over the place and spend about 50 a week on petrol and I thought that was a lot!

Original poster
JufusMum · 03/12/2019 11:06

SarahandQuack
If you think this is a stealth boast or a windup you are very mistaken.

It was just a shock to the system for me and DH as we were not made aware at the start of Sixth Form that Maintenance Loans are means tested. DD's friend who has a father earning £35k and a mother who works but does not declare (cash in hand) got the full loans of £9k.
I was just shocked but yes, I guess we cannot save for three years. Which will be a worry if we have any unexpected payments as we have never borrowed money (except for mortgage).
Do you know I haven't been on Mumsnet for over a year and it's all got rather spiky whilst I have been away, used to be a nice place. Which is a real shame.

OP posts:
Trewser · 03/12/2019 11:06

Please tell me that your dhs car doesn't cost you a third of your takehome pay. I must have got that wrong.

Original poster
JufusMum · 03/12/2019 11:08

Trewser
What car does your dh drive??! A massive 4x4? We live rurally. THATS 300 A WEEK ON PETROL
Yep, he works a long way from home.

OP posts:
Lotus90 · 03/12/2019 11:09

Many parents will have saved small amounts over the previous 18 years to avoid finding themselves in this situation. Otherwise other than you increasing your working hours and your DD working a few hours a week, I really don't know

IaIa3 · 03/12/2019 11:09

You've £200 a month already which could be going towards uni, and presumably if you've been saving that amount per month for a while you'll have a little lump sum saved. We have money that goes straight into a saving account which at the moment we don't class it as our money to be spent however it would be used in a case like yours. I don't think you can say you can't afford something whilst putting away savings.

SarahAndQuack · 03/12/2019 11:10

Well, I'm sorry if I sound spiky.

But I do find these sorts of posts rather difficult. You initially seemed to be in genuine financial difficulty, and now you are revealing that you can afford this perfectly well - you'd just prefer not to go without putting money aside in savings.

I get why it might be a shock if you didn't realise about maintenance grants. But I wish you'd have thought for five seconds and thought 'oh! I know! I'll have to use the money earmarked for savings' rather than posting. It's not a financially easy time for a lot of people, and reading posts like this does feel a bit like salt in the wounds.

StrayWoman · 03/12/2019 11:12

£300 a week is absurd. That's £1200 a month, that's not economically sensible at all.

Can he not look into changing jobs to something close to home? Surely he'd still be better off taking a £10k pay cut than spending 1/4 of his salary on petrol.

Trewser · 03/12/2019 11:12

Wow. I presume you've looked into cheaper cars and public transport? An annual season ticket to London from here (4 hours from London) costs far less than that, in fact you'd save around 7500k a year doing that.

Betterversionofme · 03/12/2019 11:14

If you live in other city, and DD had her own room, rent her room to another student. A student lodger might go home for Christmas/summer and you might be able to use that room for your DD, not charging your lodger for that period. (if not, your DD might have to sleep on the sofa or share with siblings). Or just rent to anyone to get money.

Trewser · 03/12/2019 11:14

300 a week on petrol would eat me up. I'd have to look at cutting that right back. If he drives an uneconomical car with a large engine then I'm afraid you've lost my sympathy - why should your dd have to work during her degree just so your dh can drive a gas guzzler!

Original poster
JufusMum · 03/12/2019 11:15

SarahandQuack I have to be honest I did not intend to upset anyone who is having a tough time financially, but if we use our savings during DD's time at Uni then that is literally all we have. We will not have any savings left after DD finishes Uni. That's a bit scary - what if boiler goes/my car dies? I have just paid £3000 from my savings for my mothers funeral (very basic service) which has depleted our savings anyway. We do have a small savings plan which comes out in DD's second year giving her about 2k so that will be half of year 2 support.

OP posts:
Reallybadidea · 03/12/2019 11:15

It was just a shock to the system for me and DH as we were not made aware at the start of Sixth Form that Maintenance Loans are means tested

Why on earth would anyone need to make you aware that university costs money?!

SquashedFlyBiscuit · 03/12/2019 11:16

It doesnt sound like your life is working if he needs to drive so much its taking 1/3 of his pay does he need to a different job? You to move? Can you afgord your morthage?

If you've been saving 200 a month for a while does that mean you have savings??

Original poster
JufusMum · 03/12/2019 11:16

Trewser as I have said before DH gets a company car he does not get a choice in what he drives.

OP posts:
Original poster
JufusMum · 03/12/2019 11:18

SquashedFlyBiscuit Yes we have about 5k in savings right now but need to buy DD a car soon as she takes her test in January. I know she doesn't need a car but at the moment all I do is drive her around (school is almost an hour away, part time job 40 mins away) so if she has a car and drives herself I will have more time to get a part time job.

OP posts:
Trewser · 03/12/2019 11:19

Trewser as I have said before DH gets a company car he does not get a choice in what he drives

of course he does. No company would insist he has a ridiculous tax bill when he could choose something cheaper. Dh has a company car and deliberately chose something very economical. Yes he will need to have a new car (stupid rule IMO), but surely he could have chosen something smaller. Unless he works for Landrover and even then they shouldn't penalise him via tax!

Madness.

Reallybadidea · 03/12/2019 11:19

Honestly, if finances are that tight then I'd be considering a full time job anyway. Doesn't sound as though you can really afford to be part time.

ElluesPichulobu · 03/12/2019 11:20

You save £200 a month - so that's easy then. For the duration of the course that £200 per month plus a termly lump sum withdrawn from those previous savings should be plenty to keep her for the duration of the course.

The point of saving is so that you have money in reserve for when you have unusual expenses. This is an unusual expense. It's not forever, you can go back to saving once she has finished her course. You must have a decent pot put aside if you have been saving £2400 a year for a while.

You can't simultaneously complain of getting hit for tax for a personal petrol allowance from his employer, and also bemoan the cost of petrol. His employer is paying the petrol bill and he is only paying the tax on it.

StrayWoman · 03/12/2019 11:20

"We will not have any savings left after DD finishes Uni. That's a bit scary"

Yep, it is a bit scary. We can't afford to have savings. Most people I know don't have savings, because they can't afford to.

The main issue here is DH's travel and petrol costs. He needs to find a closer job, even if it involved a pay cut. £300 pw = over £15,000 a year on petrol. That is insanity.

Baguetteaboutit · 03/12/2019 11:21

DD's friend who has a father earning £35k and a mother who works but does not declare (cash in hand) got the full loans of £9k.

This is the crux of it really, isn't it? You're just pissed off. You are perfectly aware that you have options, use savings, get another job, DD gives up car and goes to a city uni - it's not that you couldn't figure this shit out, you're just pissed off that someone else has it easier.

Original poster
JufusMum · 03/12/2019 11:21

I would like DH to change his job for sure, but at the age of 56 he is very reluctant to do so.

OP posts:
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