What if we can't afford to support DC?

[pinkpip100]

Oldest DC is in year 12 and plans to go to university in Sept 2023. I've been looking into student finance and according to the calculator they will get a loan to pay fees in full, but only the minimum maintenance loan, due to our household income. We have 3 other dc, and it is likely that DC1 & DC2 will overlap at uni for at least a year (and subsequently DC2 & DC3 too). I understand that we are expected to support them financially, and assume this will mean topping up from the minimum maintenance loan to the maximum amount.
My worry is that we will massively struggle to pay this for 1 DC, let alone for 2 at a time. We have no money left at the end of each month, no savings. Youngest DC is disabled so I have always ended up in low paid part-time jobs which offer flexibility to look after them when needed. As a result we have built up a lot of debt over the years - and just making minimum payments for this wipes out a huge chunk of our combined income. I am just about to start a better paid job which will increase our income, but paying off the debt will obviously take a long time. Our household income for 21-22 will therefore appear pretty high on paper - hence DC1 only getting minimum loan amount - but definitely isn't reflective of how much expendable income we have.
I suppose my question is - does any of this (number of dependents, sibling with a disability, level of debt repayments vs household income) get taken into account when applying for a maintenance loan? Are there any other student finance options? Has anyone else been in a similar position? I realise we've been totally naive but I assumed DC would be able to get full loan amounts for fees and maintenance, so had envisaged just topping up what we could afford.

Yes, I agree, don’t go catered !

I agree with choosing uni in cheaper areas, we told ds that London would be out of the question during to costs. Also you should plan a head as much as possible. Ds worked from 16 saving half his wages for uni, he works now at uni and during all the holidays. Unless doing a degree such as medicine they should have time for a job.

Gosh thanks so much everyone - I was looking after a poorly DD and came back to lots of really helpful advice - I was honestly expecting to get an earful for being so unprepared for this.

I really hope DC will be able to get a job - however he struggles socially (awaiting an autism assessment but with long waiting lists this is unlikely to happen until after he goes off to uni) and so far has had a couple of disastrous interviews (even McDonalds turned him down) which have put him off even applying for jobs. He is very academic but also lacks common sense / everyday life skills, he's dyspraxic (though not fully diagnosed) too so lots of physical tasks are a struggle. He also lacks flexibility of thought so finds it hard to consider alternative options such as taking a gap year or going to university locally. I also feel bad as it's not his fault he's the eldest of 4, has a disabled sibling and we're in so much debt - I'm desperately trying to avoid him having to 'pay the price' for our family circumstances.
Anyway - I'll definitely check out the Facebook group recommended, look at cost of accommodation etc and also possible bursaries at different unis, and carry on trying to build up DC's confidence and skills so that he is a bit more employable by the summer after his A-Levels. Will also check out the debt advice organisations PP mentioned - we have definitely been burying our heads in the sand to an extent.

No, the amount of loan you get doesn't take into account outgoings, only household income (in reality, there is a tiny amount of difference if you have siblings).

So, you, and your student look at all the options, both for minimising outgoings and for increasing income:

• Live at home and go to local University
• Factor in living costs at Universities they apply to - there is a massive difference in the cost of housing particularly, but cost of living generally in different places
• Factor in the cost of accommodation once they have chosen the university. A few do seem to offer a really randomised system, but most will take account of the price band you apply for. Don't go catered. Don't have an en-suite and both of those save ££££ every week

• Work during term time
• Work during the holidays
• Take a year out and work for a year before going
• some combination of the above
• there might also be bursaries and / or scholarships to apply for at chosen university

• then realistic expectations from your dc in terms of giving them budgeting skills, cooking skills, and an understanding of what is a 'treat' rather than a 'need'

Oh yes, I got my DS to research the cost of accommodation to help make his decision on where to study. He isn't staying too far from home so he can return at low cost. He could stay home if he really wanted, but in our personal circumstances it is more beneficial for him to stay in halls.
We also talked about staying up north to study for cheaper house prices should he settle in the town he has been at uni in.

Don't worry about being turned down for McDonald's. My ds had about 12 rejections from them! He got a job stacking shelves at night for £12 ph at Asda. So now he is mr mega bucks amongst his friends! He gets to keep his unsocial hours and can transfer stores when he goes to uni.
There are lots of jobs out there that your DS might find more suitable. Mine is a bit away with the fairies really, so a job with no public interaction was probably best for him!!!

ah, x-posted

@Bagelsandbrie. @woodencheeks
I think you need to know Liverpool halls are expensive. Don’t assume all cities, other than London, are cheap. OP needs to research fully. However I would see what might be available locally if finance is not available from family. Could grandparents help? Offload money before IHT?

@ThisMustBeMyDream that gives me hope - really glad to hear your ds found something that suits him!

Your DC need to get part time jobs as soon as they possibly can and start saving. Or take a year off and work full-time before they go. They will also need to work during university.

I ended up with 3 part-time jobs during my final year (bar job during the week, saturday job at a bookies and another ad-hoc job) and still came out £12k in debt, which it took me a decade to pay off in student loans. There's just no other way around it unless you're minted.

Do they all really need/want to go to university? There are lots of practical/vocational courses where they can earn as they learn, depending on what they want to do.

@TizerorFizz - grandparents either unable or unwilling sadly! We'll definitely do some research on cost of living - I'd already encouraged him to rule out London because of this but sounds like we need to look at this in more depth.

Ideally how many years advance would you tell a DC that you are limited in terms of the help given? (Like in year10) Don't most 16/17 year olds work PT in 6th form anyway?

Deloitte do a gap year scheme, so he could do that. Also there are paid summer internships in 2nd year (for students to apply for)

@pinkpip100 what does ur DC want to study? If costs are a big issue, would staying at home and commuting to a local uni be viable?

Then, there may not be any local unis (or any good ones).

Hi, we were financially in the same position. My ds got a part time job last year and is going to try and get more hours in the Summer holidays.

However, you could see if you daughter wants to apply to a Uni where there are bursaries attached. See can therefore sit an exam and obtain some extra money directly from the Uni to help. This will give them a little bit more money to help. Get them to look at courses and Unis for this.

It’s so unfair- minimum loan doesn’t even cover hall fees usually. It’s a LOAN! Not even a very cheap loan. They should all get the same.
They get more loan during years of overlapping with siblings mind you.
It’s a bit cheaper once they move out of halls. Currently topping up by £400 a month for one of them plus extras like train fares etc. when eldest was at Uni, 8 years ago, they only needed an extra £200.
Definitely look round - cost of halls varies so much.

@yogabbagabba134
No most 16/17 year olds don’t work. Very few get paid internships. Very few. They are often miles from home and the money has to pay for accommodation or travel so it’s rarely a huge profit making exercise. They are also hugely competitive so the OPs DS might not be successful. You cannot bank on internships.

@yogabbagabba134

No most 16/17 year olds don’t work

Um, they do around here and in my family! No choice unfortunately.

[quote GreenFingersWouldBeHandy]@yogabbagabba134

No most 16/17 year olds don’t work

Um, they do around here and in my family! No choice unfortunately.[/quote]
Same here!

And when I was doing my A levels I worked 30 hours a week in a pub!

[quote GreenFingersWouldBeHandy]@yogabbagabba134

No most 16/17 year olds don’t work

Um, they do around here and in my family! No choice unfortunately.[/quote]
It is common for quite a lot of kids to work PT during 6th form. Most self fund their post a level party holidays etc?
I thought the 'done thing' at 17 you stop giving them pocket money and tell them to work PT.

@Bagelsandbrie isn't 30 hours too much for a full time A-levels student? I thought at most it was 10 hours a week.

I agree Yoga. my DCs 6th form college also say to limit part time work to 10 hours a week.

For this reason I am going to be very honest about my childrens options upon application and try to persuade them to live at home
(We are lucky as are travelling distance from Chester, Manchester and Liverpool)

Yes 10 hrs per week max is strongly recommended at DS's 6th form. I'd be very happy if he managed 10 hours though!
He ideally wants to study PPE, but would consider just Politics or Politics & Economics. I'll definitely talk to him again about choosing a local uni and living at home - but it's not ideal really as we live in a 3 bedroom house (as a family of 6) so very little personal space - I guess that's not particularly attractive for an 18 year old uni student....

Bear in mind that your income will be assessed for your eldest based on 2020-2021 income, so the first year might be the easiest.

I was in the situation but I was the child.

1 of 4 children, on paper parents had high income but had debts, high rent and younger dcs to pay for which meant they weren't able to support me through uni but I also wasn't eligible for much in the way of loans. The way student finance is assessed is unfair, it is based on the assumption parents can and will support.

I had to make a choice, I took a gap year to work and save and ended up not going because I landed a great job I have now built a career in. It also made me really consider if I actually needed to go to uni, which I didn't.

My best friend had the same but did go, she chose a uni where cost of accommodation was lower and worked throughout her degree.

I'd speak to your dc ASAP so they are aware of the situation and know the expectation if they want to go. It might make them consider whether there are other options for pursuing their desired career or if they are just going to uni because most people do.

My only wish is my parents had been more upfront with me about the situation because they didn't really tell me until I actually got my results and had my space confirmed