Kid at uni? So how much is that costing?

[Lordfrontpaw]

I was just pondering this. DS was talking about courses this morning (he is about to start a-levels) and it’s a very different world from when me and his dad went (no fees, grants...).

What realistically are parents paying these days?

For many people it is much cheaper today! When I went only 15% got to go so most people were paying through taxes so a small number could go ( less fair). Also I got a minimum grant with no obligation on parents to make up to full grant ( similar today's minimum loan of about £4300 which parents do not have to make up to £9k + of the amount the less well off receive in England).

I think most parents whose children do not receive the full loan make up the difference between minimum and maximum loan.

I am different. I have paid for all 5 children to have no loans at all and that this year with the twins is costing £9250 fees each x 2, rent about £6k x 2, bills about £46 a month x 2 (£1k pa) and weekly allowance of £150 = £7800 a year x 2 and they share a car for which I pay (and I feed them when at home). About £25k per twin this year (£50k pa out of income taxed at at least 42%, i hope the tax payer is grateful that I am saving it so much student loan which otherwise might not have been paid back.

If they both go to law school in the Autumn - one has a place so far- that will take us down to about £39k including car and allowance (as probably no rent as at least one will live at home). In 1984 I started paying for full time childcare for baby 1 agd 2 weeks - it took 50% of each of our net salaries!!!!. If I stop having post grad costs to pay in 2022 that will have been 38 continuous years of very expensive child costs...... but worth every penny. School fees alone for 5 for 13 years at say £10k a year average will be £650k, probably about £1m of before tax income from 1987 - 2017 (that was 30 years of school fees).

It costs me personally 400 a month. Dd has a tuition fee loan and the minimum maintenance loan.

Asking around, most parents seem to be chipping in £250-£500/month. A small number of parents I know truly can't afford it (HH incomes < half of national median), so their kids get more grants/loans/PT work.

DD is in 2nd year, I pay her rent which is £380/month. It was quite a bit more in 1st year when she was in halls. She gets the minimum loan of around £4500 (I think) to cover bills, food, travel etc. She works part time to fund clothes/going out and we pay her phone contract. In Scotland so no fees! Degree is 4 years tho!

Started saving up when DD was about 6 and a colleague mentioned how expensive it was having kids at uni!