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.

Look at the uni’s accommodation costs as the vary massively. Your child needs to save some money themselves working over the summer. My DS cleaned hotel rooms, hard work but paid well. Also child trust fund pay out at 18 so he’s using that. We give him £25 a week to cover his food.

Have you looked at any degree apprenticeships? Course fees are paid and you get paid a wage as well. The civil service have an economics apprenticeship in collaboration with the University of Kent.

My ds also has dyspraxia and struggles with social skills and struggled with working in a shop and restaurant. The hotel worked well as little customer contact

Fortunately/unfortunately this is why student bank accounts have interest-free overdrafts. A few universities have a bursary scheme but working during the holidays is the norm - if they can get a job that is. I think it's extremely unlikely that any full-time student does a paid 30 hours a week job though

Iirc, SFE slightly increase the amount of loan if the student has younger dependent siblings

@valbyruta

Fortunately/unfortunately this is why student bank accounts have interest-free overdrafts. A few universities have a bursary scheme but working during the holidays is the norm - if they can get a job that is. I think it's extremely unlikely that any full-time student does a paid 30 hours a week job though

Iirc, SFE slightly increase the amount of loan if the student has younger dependent siblings

I think that's if the student themselves is a parent?

Oxford accomodation is cheap for a number of reasons - you can often live in all 3 years, it can be cheaper per week than other unis (depends on college), the terms are only 8 weeks long. Difficult to work at any time other than the summer vacation but that is longer than other unis.

No, we got a slightly increased amount of loan for dc1 (who is in second year university) as we have a younger child in full time education

If he were to get married then they wouldn't take your earnings into account. Obviously not ideal but... Or if he lived independently for 3 years.

@Geneticsbunny that made me laugh (the getting married part!)

@GeneLovesJezebel

It really annoys me that their loan is linked to their parents, when they are adults. They should all get the same, and then not take what they don’t need.

This has always been the case…I was at uni in early 80s. I still have a old letter from my mum writing to me explaining she and my dad couldn’t afford to pay my “allowance” ( the maintence top up ) for that term. I had rent to pay for that term…they didn’t seem to understand that I couldn’t pay that from thin air and doing a science degree I had no spare time in timetable to get a job. It has always been a difficult situation. People seem to think kids of my age went to uni for free…nope..we didn’t have to take loans and fees were free, but our parents were still means tested for maintenance and expected to make up the amount. I was youngest of 3 who went, I think my parents had run out of savings by time they got to me..hence my mums letter. I can’t remember now what I did …certainly I remember the stress of it,

Actually @hellywelly3 ds does have a child trust fund too - I'd forgotten about that - I can't imagine it's worth much but might help a bit. And thanks for the hotel tip, that could actually suit him!

@MayMorris I went to uni later (at 21) and had been supporting myself independently since 18, so was able to get the full loan/grant without any parental contribution expected - but I imagine it would have been a similar situation to yours if not. In fact I don't think my dm would have been willing to support me at all even if I had gone at 18 - but that's a whole other story!

[quote pinkpip100]@MayMorris I went to uni later (at 21) and had been supporting myself independently since 18, so was able to get the full loan/grant without any parental contribution expected - but I imagine it would have been a similar situation to yours if not. In fact I don't think my dm would have been willing to support me at all even if I had gone at 18 - but that's a whole other story! [/quote]
how was it for you socially, being 3 years older?

So we are a year into this already dd only gets the minimum but we only got on the housimg ladder 2 years ago and things are really tight, i pay £70 top up into her accomadition account each month for her rent and £60 a month for food and spends i did a costco haul before she went so she has toiletries and staples but she does jobs around the uni for nights out etc. North is cheapest and has some fab uni's. And santander do a rail card discount with their accounts which helps. Annoyingly 3 of her "well off" friends have the full loan the parents own property but i have no idea how they did it (and no wish to)

She's gonna have to do what I did and many other did. They all need to get part time jobs. If they want the privilege of going to Uni, then they have to work for it. We did fine. Good grades, so it can be done x

@yogabbagabba134
Very different I think - I made a handful of good friends (all other 'mature' students), but it definitely wasn't the massive social experience that most 18/19 year olds have. I never lived in halls (lived with my boyfriend at the time for y1 & 2, then at home for most of y3 after we split up - luckily uni was near enough to do this (London).

But I worked throughout (temped in offices during the holidays - pretty good money for a student!) and also studied hard - I think I felt more appreciative of my lecturers time and effort than some of the 'straight from school' students.

They need to work the whole summer before they go, and save. They then need a job at their Uni, and to work all holidays.
They also need to learn to shop cheap.

^ this is what we did.

@ouchyoubiteybugger that sounds really unfair.

I really feel for you OP, I was so nearly in your situation.

My DS chose to go to a University with very cheap accommodation didn't socialise at all never wanted new clothes and ate very cheaply (which worried me) so it was affordable for us.

I understand your eldest DC might not be able to find work, but it might be an idea to prepare your you get DC that they might need to, that they might need a gap year, and look at universities in commutable distance.

Be prepared you'll need a deposit for accommodation of a few hundred pounds. My DSs autism meant when he asked us to pay the deposit for him, he couldn't have waited. I hate to think what would have happened if DH wasn't able to pay there and then.

DSS is having a gap year and after his A-levels will get a full time job or couple of jobs. We live near an airport and they are desperate for staff and offer 40hrs a week.

He needs to save a lot in those 15 months and will then need to get a part time job whilst at uni

I don’t understand how you can get a mortgage at 18 and be treated as independent but if you go to uni, you need your parents to sort out your finances. Such a messed up system. Agree with the PP - it’s a loan and all should be be given the same opportunity to take it or not, depending on if they need it!

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?

They deduct approx £1000 from your household income per dependent child (including other DC at university). That's it

@LynetteScavo thank you - I actually think my ds will live pretty cheaply too (no social life, uninterested in clothes, simple taste in food!) - although I know I'll worry about all of those things too! Yes talking to my younger dc's is a good idea - they are already saying they want p/t jobs as soon as they turn 16 anyway - very different to eldest dc - so I just need to encourage them to save towards whatever they want to do next.

how was it for you socially, being 3 years older?

My dd is in 2nd year now, but in her 'bubble' in 1st year, there were several students who were a couple of years older, having worked for a year then travelled, or worked then decided to work a 2nd year. One I think had re-taken a year then worked for a year. One had changed courses. It is quite normal to have students who are 20 / 21 / 22 when they start.