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?

I would suggest that if she wants to work in computers Uni is wholly unnecessary there are other courses and apprenticeships that I expect would give her a lot more my. Husband works in data and thought himself coding and many computer languages, no uni or college just lots of on the side learning and he earns over £50k pa now. He earns similar to myself who did 3 years uni and a 3 year finance qualification with lots of student debt. So there are many other options to look out for. Are there any career advice services available at sixth form you could access? Staying at home is a really good option. I would suggest possibly if she went locally year 1 live in halls so she can make friends etc and then year 2/3 live at home it would be a nice cheaper alternative. As year 2/3 you normally move into private rented with friends, well that's what most of my friends did.

Don’t write off your daughter getting a job for gap year (with the proviso I obviously know nothing about her) there are plenty of jobs for socially awkward people eg post office sorting, supermarket home delivery sorting, shelf stacking. Would probably be able to pick up a few shifts in holidays too. Working for a year is great preparation for uni life, and life in general.

You need to understand this is all part of the 'Dumbing Down Process' the Establishment (not necessarily the temporary Gov't/State of the day etc..) isn't exactly too keen on an informed citizenry and even though we pay taxes you'd think you certainly deserve an education or are at least are entitled to exercise your right to access information in the public interest especially on things like money, big-pharma, technology etc... and that takes me to your point on Universities.
They used to be centres of academic excellence especially in areas of scientific research, today that research doesn't truly benefit Joe Bloggs, us, we the people, the man on the street - if anything its doing the opposite and I can't list this all this here in a short thread.....
University will certainly guarantee some education and a few years of getting wasted on partying, getting stoned off your face and more partying...most importantly, ending up in serious debt up to your eyeballs like £75k+ inflation debt.
You see, universities have become a cash cow for powerful vested interests who aren't really committed to academic excellence anymore, but lining their pockets for themselves, their mates and their families.
So, like a lot of things corruption infects many things, be it educational institutions, political, lamestream media, 'think' tanks, even legal - I could go on.
On education itself, did you consider part-time or Open University or dare I say it, self education or looking at Professional qualifications?

So if you want to avoid powerful vested interests where should you end up working?

My son got a part time job to top up his loan.
We helped where we could by sending food shops. We sat down and went through all of the figures with him and made it clear that he would need to have a job and he was fine with it.

We ended up buying a house for DD and then letting the extra rooms to her friends/classmates to pay the mortgage. At the end of Uni we intended to sell the house, but kept it to rent to new students as it was a good investment. However we did not charge extortionate amounts so it is always fully let.

I actually spoke to Uni and linked up with them to find good kids from low income families who would have struggled otherwise.

I have a strong suspicion that if OP was in a position to buy a second house she wouldn't be worrying about affording to pay for her DC through university.

This is the sort of thing most will think ahead ( I’m not criticising just saying anyone with young kids thing about it when they are 4 not teens ) .
would a student loan be a option for them and working while at uni ?
This was a small part of whey we moved to Scotland a few years ago when the kids where still small , we pay more tax but hopefully Uni will still be free . At the moment we put some money aside from £50 to £200 a month and have 2 young ones 1 and 7 to help with accommodation

Does she need a degree in order to embark on the career she wants? If so, would a local university offer the course she wants, so she can remain living at home, or could she study with the Open University or do a Higher Level Apprenticeship?

Universities use students as cash cows. A lot of degrees aren't even worth the paper they are written on nowadays either. I wouldn't recommend university unless your child needs a degree for the career they want to embark on and need access to university facilities such as labs.

I'd recommend your daughter consider taking a gap year to save money and have experience and then decide if university is for her.

please don’t feel bad , parents don’t always have spare money . My parents could never have afforded uni for me , I had to get a job and loans and I do not feel in any way resentful towards them . Part of going to uni is realising everyone’s life’s are different

I definitely agree that the landscape has changed so much and many parents haven’t got the memo. I don’t think Op is unusual in getting until late school years before realising. The saving from birth for ‘college’ isn’t in our culture here yet.
I was telling a few people in my office last week about going to London to see a uni with dc, she liked but I don’t think it will be realistic financially and those with young children had no idea. They thought it was still in the buy a bag of shopping territory not parents being expected to make up £6500 a year if she’s in London to put her on level playing field with those eligible for a full loan.
Losing your full loan eligibility on household income of £25,000 and only getting minimum loan if your parents jointly earn over £60,000 means most parents are expected to contribute. Yet multiple siblings and other commitments are not taken into account. The classic 2 year age gap is brutal at uni age.
We are in a nice area and dc at at academic grammar sixth form and lots of her peers been told northern uni only or stay at home. It’s literally a handful out of her year looking further afield.

Both our children are at university. We are a low income family. Only my husband works as I’m disabled and can no longer work.

My eldest pays approx £420 per month in rent in a very nice town, but it’s a private student rent, not halls - which were much more expensive and smaller.

Due to our low income they both receive the full maintenance loan and they both have jobs.

One of the biggest factors in them being able to manage is they can cook from
scratch. Many of their housemates rely on takeaways and convenience food, it costs a fortune.

We set them up with pretty much everything they needed for the kitchen and bedroom.

They are doing great, it’s definitely do-able.

Universities use students as cash cows.
They don't. Universities are skint.
The fees UK students pay don't cover the cost of tuition.

A lot of degrees aren't even worth the paper they are written on nowadays either.
Any education is worth it if the student makes the most of the opportunity. 80% of graduate jobs don't specify a particular degree subject ..... this means graduate employers value to skills students develop while at university m.

I wouldn't recommend university unless your child needs a degree for the career they want to embark on and need access to university facilities such as labs.

While I agree that university isn't and shouldn't be for everyone I feel people look at this the wrong way around.

A degree apprenticeship or vocational degree can be a brilliant option but these are for people who know what they want to do as a career. Many 18 year olds don't have a clear career plan therefore university gives them the opportunity to explore their strengths and interests while accessing a huge amount of support which is specifically aimed to help them with this.
If you don't have a career plan and are academic, then university is the ideal choice! It's opens up so many more possibilities and opportunities. But you have to put the work in.

Maglin - its precisely that type of pessimistic mentality that's allowed vested interests to become the dictators that they are.
Have a nice day...

Can she go to a nearby uni and live at home?

There’ll be a job she’s able to do while at Uni. There’s lot of things you can do remotely now, just make sure it’s getting vetted so she doesn’t fall prey to any scams. I grew up skint and my parents didn’t have any money to give me when I went to uni. I remember arriving with £200 to my name that my grandparents had given me. I didn’t realise you needed to bring your own bedding and had to wander round the next day looking for the nearest Argos.

Uni was a massive learning curve for me. I completely wasn’t prepared to live independently but I muddled through. My first job was at a pub and I used to shake with fear before every shift but every time I went back it got a little easier. It was definitely the hardest job I’ve ever had but set me up for being able to deal with all kinds of situations.

It is difficult and we're definitely in the downward slide of uni not being affordable for a significant part of society

It is not fair

I'm a single parent and have managed to save 12k over 12 years. DD has had a job since she was 16 and had modest savings (1.2k). She settled in to uni and got a job 2nd term. She earns about 400p/m. I hate that she has to work as she'd rather be studying. It is what it is.

Luckily, she doesn't go out much, doesn't smoke, the odd cocktail on the rare occasion she goes to a bar. Her uncle (my DB) gives her spending money each term of which is for social, clothes, toiletries etc. Her rent for this coming year is 9.5k - this was the cheapest we could find! And all the non uni accom is for 52 weeks (so I've already had to pay the deposit and 1st month) starting 05 July

It is a real struggle but I make it work. I eat lots of beans on toast, pasta, rice 😁

You will find a way.

Best of luck.

Apart from giving my details to Student Finance for my three, I didn’t have a hand in it at all… they sorted it all ! They got full grants/ bursaries and we’ve not had to pay anything . One went To York, one to Hull and one to York St. John.
Sorry, can’t give any help!

I probably should add they all had jobs and I helped a bit with initial bedding and kitchen utensils etc.

So you don’t expect your child to get a job then? Mine got a loan and a job and paid for the lot. I helped out with food parcels.

Haven’t read the full thread as its massive but don’t forget uni students are expected to accrue huge debts and pay it off when they acquire a job that takes them over the threshold. I graduated 2009 and still paying mine off, I pay about £100 a month depending on different jobs/salaries I’ve had. This didn’t include accomodation costs as I lived at home. I also worked about 20 hours a week. If you don’t have the money then you can’t contribute it’s as simple as that, either bursaries/grants/student loans will need to cover it, alongside side a PT job and potentially a year out to save up.

On a side note, from experience I don’t think there’s that many professional roles now that require degrees. I had friends who went into work straight after college and worked their way up and have jobs equivalent to what I have and no debt! Unless a role specifically needs a degree (ie medicine, law, accountancy etc.) then I’d definitely look into other options

On a side note, from experience I don’t think there’s that many professional roles now that require degrees. I had friends who went into work straight after college and worked their way up and have jobs equivalent to what I have and no debt! Unless a role specifically needs a degree (ie medicine, law, accountancy etc.) then I’d definitely look into other options

Actually it's the opposite. There are a huge number of jobs that previously didn't require a degree but now do.

Plus 80% of graduate jobs don't specify a particular degree subject so advising people to only pick degrees that lead to a specific job is actually terrible advice!!
For example, lots of history graduates go into accountancy or similar because employers value the skills learned while studying for a history degree.

I think you have to be careful about letting her work too much (like more than 1 day on weekends/8 hours per week) during term time. Oxford and Cambridge strictly prohibit working during term time, as it makes studying there impossible. The massive costs of tuition fees are wasted if you don't get a first or at very least an upper second. It's far better to take a gap year and build up a financial cushion, and then study like crazy to get a paid internship over the summer, or if failing that, any full time summer job to save up again for term. There is also the 'year in industry' option at many unis, so you work full time in year 3 and save the surplus for the final year of the course. Too much jobbing during term time might end up 'penny wise but pound foolish'.

Any Minimum Wage job. 11.20x60x4 is 2688.

60 hours a week. No thanks.