So, how the hell do you afford uni for your kids?

[F0XCUB88]

Just been looking at prices for accommodation, £200 per week!

So looked at Money Saving Expert to see how much we need to contribute on top of loans. It says we need to save £358 per month.

We earn £50,000 between us, mortgage payment just went up by £££ and now can't actually get to the end of the month so how do we save £358?

Do we just say no she can't go? What do other people do?

I know it's a first world problem but she's really bright. Neither of us went to uni and finding it all a bit confusing. I just can't see that everyone else can afford it?

Apologies for typos, I’m doing two things at once.

When I recruit I prefer to see students who have an internship at a law firm (my sector) or a professional services company. I don't care if they worked at McDonald's.

Also these internships are outside of the academic year so wouldn't compromise studies.

@F0XCUB88 definitely. You need to think carefully about which uni. Avoid london for example and anywhere else expensive to live as rents will be higher.

Do the maintenance loan calculator and see what she will get. And when you visit unis they will give prices. Rentals usually take payment per term within a few days of loan going in.

Also think about commute to home to . If she's wanting to come back often it's better to not be on other side of the country.

My two worked at McDonald's did about 15 hours a week earnt £600 a month

Also some universities do not allow part time jobs during term time so you need to take that into account. Mine didn't.

All the uni students I work with come back and put in as many hours as possible during their breaks. Bear in mind, unis mainly break up much earlier than schools, and they have a huge stint to build up some money during their breaks. One of the uni students who comes to work with us over the summer/Xmas/Easter, is currently pulling in 60 hour plus weeks, meaning she's earning around £2700 a month! She still goes out and has fun, but she saves most of it, knowing the money she earns will pay for everything once she's back at uni. Supermarkets, pubs, restaurants are all really flexible and good work options for uni students. Alot of the bigger chains of these types of work can also accomodate student contracts, or transfer them to a store near their uni if they want to work while studying.

When I recruit I prefer to see students who have an internship at a law firm (my sector) or a professional services company. I don't care if they worked at McDonald's.

The issue with that is it's always going to favour students from wealthier backgrounds who can afford to work an unpaid /low pay internship.

Students who are working at McDonalds are generally doing that job because they need money to survive.

Yes. Avoid the good universities. What tosh. Financially it is a stretch but the potential upside of going to a good university that is academically rated, having the opportunity to build a good network, and getting first dibs on some graduate schemes is well worth the money.

We are a long way off that stage but we are saving for uni now as it’s so expensive. We have a fund for uni and a fund for future house deposits for each DC. If they need more money when they’re at uni they’ll have to get a part time job to cover the rest.

In answer to your initial question we've been saving for the past 6 years. Tbf we had no idea of the potential costs either til my nephew went 6 years ago and my dsis told me.

And def mine will be expected to work, if not in term time then certainly out of it (plenty of students do have term time jobs).

Erm, I said look at Oxbridge?

When I recruit I prefer to see students who have an internship at a law firm (my sector) or a professional services company. I don't care if they worked at McDonald's.

When I recruit it's much more likely I am going to hire the graduate with work experience alongside their degree (chances are they are more easily able to do the application). It's possible to do volunteering/summer placement and a job on the side (I did it, and was a better employee for it)- especially if doing a humanities degree with less contact time.

A graduate with a 2.1 and some customer services experience is likely more valuable to me than one with a 1st and no work experience.

Also some universities do not allow part time jobs during term time so you need to take that into account. Mine didn't.

When did you go to university?

This type of policy disadvantages students from poorer backgrounds so would be frowned upon by the OfS.
Every university I've worked at or worked with has a job shop which is specifically about supporting students get jobs while they are studying.

And thus privilege begets privilege. Internships are just the old boys club/old school tie made new for the 21st century.

Just because degree apprenticeship are competitive doesn’t mean your dd won’t be successful.

Their looking for growth mindsets and potential.

Oxbridge still doesn't allow term time working, not does medicine or some other heavy degrees. You still get the long holidays to work in though which is more than enough for most students to earn enough to cover their costs.

I don't know anyone who paid their kids to go to uni, thats what loans are for. Uni isn't and entitlement in life and those that did receive 'help' went to their local uni and the 'help' was living at home rent free. Wanting to go off and live independantly while someone else pays for you is just not actually an achievable reality for most.

Honesty time too but uni isn't even a good investment. I studied medicine (so respected qualification) and its done me fuck all use in life. Many of my friends from uni aren't having much better luck either (jobs are hard to get and dont pay well for extreme hours and conditions)... my friends that did apprenticeships are FAR better off now than us that went to uni.

Interesting. Our sectors are very different. We mainly look at their university and whether they had an internship at a professional services company or held a leadership position (e.g. college president). After the paper sift it's down to their social skills at the interview.

Re accommodation we visited Warwick Sheffield Newcastle Leeds Liverpool Manchester Lincoln York. Rents started around £90 . Mine paid /pay about £110 which came in at 5700 on a 52 week rental. The 40 week rentals (which halls of residence often are) are usually more expensive but work out roughly the same.

Oxbridge still doesn't allow term time working, not does medicine or some other heavy degrees. You still get the long holidays to work in though which is more than enough for most students to earn enough to cover their costs.

You can't really compare Oxbridge with other universities as it's a very, very different experience.

Other universities tend to expect students to be working alongside studying. In fact, we beat that in mind when setting our timetable.

Interesting. Our sectors are very different. We mainly look at their university and whether they had an internship at a professional services company or held a leadership position (e.g. college president). After the paper sift it's down to their social skills at the interview.

Social mobility isn't high on your agenda is it?

Honestly the majority of people I know did not take out student loans. Their parents considered it quite a bad deal since they're likely to pay it back quite quickly anyway. This is under plan 1. It's gotten worse under the new system. I wouldn't want my daughter to have a lifelong debt to service with extortionate interest if I have money in the bank.

@F0XCUB88 your dd can look for Unis offering bursaries to study her subject
She could also look into Software Engineering.
She will be having great prospects to get very well paid job. The hardship of Uni will be worth it.
PM me if she wants to talk to someone who is just few years from finishing Uni in that subject and works as a programmer now, doing very well.
She may choose a course with 1 year in industry and saving money from that will help her in the last year as it did for my DD. They earn low wages but it lasts up to 12 months and is a steady income. My DD was very proud of herself thst she saved lots during her work placement.

My DS was scared of work when he started Uni but took small jubs withing Student Union and buikd his confidence up sa that he then started working ~20h/week from mid of year 2 and then straight away after his degree finished in his professional field. They grow up a lot during their first yearof Uni.

There are Unis in towns with cheaper accomodation like Nottingham. Where is she hoping to study?

I actually disagree about service jobs being irrelevant to the professions.
When I did graduate recruitment I got tired of the 'no work experience at all' types. If you work in a shop or restaurant with the general public you are more useful to me. It shows grit. It's bloody hard work and those who have done it know that there is no reasoning with stupid. Both of my DC have/ will have a 'profession', both will have worked in service jobs. I could have given them allowance but my DH and I agreed not on your Nelly. I don't like the old boy network, I could have used mine. I didn't and tbh no one knows anything about my family and I made C-Suite level.

You daughter could find a job this summer holidays and straight after her A'Levels. She could also get a job through the year. The job through the year doesn't have to be much and doesn't need to get in the way of her school work but would help.

Next year she will have months of between finishing A'levels and starting at university.
One of my kids friends made over £4K during this period working in a call centre. He got the job through a temp agency.

One of my kids saved nearly £5k through working from about 16 mostly babysitting but also event work. She mostly studied while she babysat as the kids were mostly asleep so it didn't even get in the way of her revision.

Uni holiday are also extremely long. There is no reason your daughter can't work over the summer holiday at the very least. She could easily earn a few thousand.

I know you mentioned that your daughter might struggle to get a job but is that true for all types of job?

In our area you can easily get hospitality jobs that don't require speaking with members of the public.

You daughter can look at Unis in cheaper areas. Sheffield has student houses that look ok at £70 ish. ( I've just had a very quick look so not 100% they are ok but something for you and your daughter to check out)

Computer Science courses are massively male heavy so universities and many STEM organizations offer bursaries for women only.

I don't know if this is still about but some universities offer financial incentives to brighter student if they choose their university.

I think the biggest help to this is for your daughter to work this summer and next summer. It would be maybe 20 weeks worth of work so even if she took a few holidays she would have time to make a fair amount of money.