Spending money once they've gone to uni

[PeaceLoveAndCandy]

Are we as parents supposed to put a regular amount of money into their accounts for food, etc once they've gone to Uni and if so, how much do you give them if they do not have a job at all?

Those are useful resources from Martin Lewis. I remember looking at them for the first time last year and thinking, shit... where are we going to get that money from?!

I know our DC are incredibly lucky up in Scotland not getting burdened with a huge tuition fee debt. But I'm envious too of those in Wales who, regardless of income it seems, will be able to access over £10k each year! This seems a far better system. (I'm prepared to be corrected on my understanding by anyone Welsh). Yes, it means the students may end up with a larger student debt but at least the parents won't be expected to magic money up many of them don't have!

My DC will come out of Uni with a debt of approx. £21k (based on their entitlement to the minimum maintenance loan as it stands today of £5,100). My friends' DC going to Uni in London will be coming out of Uni with a debt of £75k+++ and the maintenance loan at its maximum (which my friends won't be entitled to claim as their household earns £50k) just about covers the University self-catered accommodation costs so those parents entitled to the full amount will still have to fork out thousands more to give their children money for food and basic living costs!! So this must mean London Universities are full of Londoners living at home, very wealthy UK students or wealthy overseas students. I went to Uni in London from another UK city and met people like me from all over the UK - I wouldn't have been able to go to a London Uni now.

It's crazy that the UK is so divided in its approach to this. But it seems the English are in the worst position.

It is crazy that many unis (not just London) have accommodation where the rent is comparable or higher than the maximum loan. What also baffles me is that many places allocate rooms semi-randomly, so although you can put a cheap place on your wish-list you might not get it.

Both of those things helped DD draw up a short-list of universities. London was right out from square one. But anecdotally some families don't even look at that!

As it is, she'll be in private rental after this year, and I have very little feel for what the rent will be. As someone upthread mentioned, often it's a whole-year lease.

What also baffles me is that many places allocate rooms semi-randomly, so although you can put a cheap place on your wish-list you might not get it
I agree, my DC and myself wanted the more expensive accommodation but they were allocated the second cheapest.

@FatMog it’s doable on the max student maintenance loan amount if they choose carefully where they go, can budget and they work during holidays to tide them over

Students on the maximum loan are often eligible for bursaries, too. Hits hardest for people who are just over the threshold for minimum loan (as with all such systems!)

I completely agree that when researching universities, students and parents should look at accommodation costs.

Dd3;s rent is far more than her maintenance loan. I'll pay accommodation (there goes my new sofa) and she'll then have about 100pw to live on during term time. She has her bus pass for the year paid for. We'll see how it goes. I gave her 200 for the first week before money came in (Freshers would cost more) and we did a bit of a shop. I suspect if she's short of money she'll ask her siblings (all mid - late 20s and solvent) so I won't know but I THINK she has enough common sense not to overspend...