Interesting socio-economic discussion.
I am a carer, my husband is a police officer. We are not on the bread line but, with three children and a mortgage and the costs of running a house and a car and feeding/clothing us all, we do not have much of a disposable income to be honest.
My three children, all of who show signs of being academically able for top universities, and who are well supported educationally at home I hope, will be entitled to the minimum maintenance loan as our combined income is a little over the threshold figure. We estimate our children will need a £250 per month minimum top up from us, each, for three or four years to get them through university. My first two are only one year apart in age so that means having to find £500 per month from next year for at least two or three years. I haven't yet found any hardship funds/bursaries for which our children might be eligible, as they are not eligible for free school meals etc. I agree that those funds should be available to the most needy, of course.
The obvious answer is for the children to continue to earn their spending money themselves, with part time jobs, through their university study. They can do that pretty much anywhere they end up. So not being really 'allowed' to do this at Oxbridge is a HUGE deterrent to going there, as is the college DS has an offer from asking for a £1500 deposit against living costs at the start of the first term in advance. That will be basically the whole of his maintenance loan for that term, meaning that we also need to find the whole of his rent in advance for the first term, if it's due in advance (I haven't seen anything about that, yet - perhaps it's payable in arrears, I don't know).
We are looking at re-mortgaging so that we can feel secure in being able to provide the top-up monthly amounts for the children...which means not only are they taking on huge debt, but we are adding to our debt too.
There's no way we can be the only ones who find the whole thing daunting financially, however much we support the idea of Oxbridge widening access and our own children putting themselves out of their comfort zones in order to have extraordinary opportunities in their lives.
Happy weekend everyone
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