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?

It's worth also looking into DSA - disabled students allowance - as she is autistic. Both of mine qualified for this and it is really helpful.

They fund things you need to access to course, so for my daughter they funded a laptop, a standing desk, and adjustable chair etc (she uses a wheelchair).

I know if other students with autism where they have funded taxis (student can't use public transport etc).

Unlike most government disability stuff they are very helpful and will try to support your child as much as they can.

www.gov.uk/disabled-students-allowance-dsa

Another tip to maximise income from working is to look at universities with short terms and look at those with only two terms. Some places finish for the year in May. Others are only just coming to an end at the end of June/start of July. That extra two months is an extra two months of time to get paid work.

@F0XCUB88 Many parents will struggle to support their children so you are not alone. You haven't let them down.

As someone else mentioned get a spreadsheet with her choice of courses and accommodation costs. Do look at studying at home as it's becoming more usual due to costs of accommodation and also availability of accommodation. Most towns/cities are experiencing the same issues renters are - nothing available and costs rising.

Can she find work now? Really worth her trying because it is rare for students not to work at Uni.

'Did you feel resentful towards your parents?'

My parents couldn't give me a single penny. They supported me emotionally, encouraged me to work in school and go to a good uni.

Not for one second did I resent them. They worked hard, both of them, they just didn't have the kind of income to help me. When Dsis went to uni years later, they DID help her because they were in a better financial position to.

I didn't resent that either. I know they would have given me the short off their backs if I needed it.

Also if you pick your local uni she could live in halls for year one and then at home for years 2 and 3. It doesn’t have to be all of nothing.

obviously avoid Scotland entirely since the courses are four years so far more expensive and more debt.

Hi OP, you’ve had lots of good advice here which I hope is helpful. Please ignore the comments saying you should have thought about this before - you clearly have. Our income has only increased in recent years so I understand how saving wouldn’t have been possible/ a priority before. You’ve done really well to put £4500 aside for her.

Plus, if uni is new to your family, I imagine the system can feel quite daunting and I think a lot of knowledge is assumed eg about student finance.

Just wanted to add that I have a 19year old autistic daughter who (fingers crossed) is going to uni this autumn. Obviously all autistic people are different but she is also quite socially awkward so I understand your concerns about jobs. However she has managed to find work that suits her better. Also noted the comment from a PP about Disability Support Allowance (DSA) and how their child’s uni offered funds for an en-suite bathroom. Unis are pretty clued up about disability (I work for one) so worth looking into.
Finally if she’s not up for a wild social life that will certainly save you money. Please don’t feel you’ve let her down in any way. You are clearly supportive of her and that will go a long way in helping her - best of luck.

I worked part time through uni to fund myself as my parents couldn't help at all

My DS worked in a food warehouse during the summer holidays to give him enough money to live on in term time and so he didn't need to work whilst at Uni. His halls in 1st year were relatively expensive (for the area) as they were modern apartments, but subsequent years in a house share were much cheaper.

I think most people start savings accounts for their children when they're small

Spectacularly naive, especially in this current economic climate 🙄

Oo sorry meant to add. When you apply for student finance you give income figures for the previous tax year, and you use the figure from
your P60 which I think takes off any pension contributions - it’s slightly less than your net salary. So both those things may drop your income a little and you may get a little more than you expected from looking at online info about cut-offs. Every little helps!

'I'm crying now. Really feel shit'

Why? She can earn the £358 a month easily in a PT job. Send her. Most unis have 'hardship funds' for those in need, you can access AFTER you start.
It's not much but I had hardship money in 2nd and 3rd year and it was enough to help me stay at uni, alongside the money I earned myself.
Jobs I had - weekend in a garden centre, restaurant dishwasher, cleaner in a hotel, babysitting, Uni library, carer, breakfast server, shop work - local newsagent, local gift shop, nights in a factory. Then summer jobs in hospitality.

It's totally do-able.

*gross salary not net

My DD also benefitted from Disabled Students Allowance. For her this meant a laptop with pre-installed software and a printer (plus paper and toner). DD has ASD and ADHA. The laptop meant she was able to focus in lectures then download recordings of lectures to annotate afterwards.

More local uni , Job, maintenance loan??
my 17 yr old daughter isn’t going to uni, we’ve bought a small summer house and she now earns £300ish a day doing beauty treatment from home When she’s not at college.
I think it’s been a blessing in disguise for her not being academic.

Have you checked the government calculator?
https://www.gov.uk/student-finance-calculator

I always assumed people just got a student loan and a part time job when they went to uni, but then I didn’t go and no one in my family did either. I think I got that idea from watching hollyoaks as a teenager 😂

You need to get over the idea that you somehow 'should' be able to pay for your DD uni. Many people don't/can't/won't.
And yes there will be kids there who have a free ride from their parents but that's just life

Amazing news! Then she could increase the share from savings if she wants more than £50/week, and top-up through part-time work in term, or full-time temp stuff in the holidays. Or internships if she can find one. You've got this, @F0XCUB88!

Hi @F0XCUB88 sorry I have not read every post except yours, but have you contacted Student Finance England (or equivalent if elsewhere) to see what, in theory, you daughter would be eligible for as a loan (fees plus living maintenance)? You may be surprised and it could well cover everything.

what im seeing in my town - which is a university bedroom town, id landlords spiking the rent for student accommodation. Presently a 3 bed pre war semi rents for £1250 per month but student flats are renting at £1450 for a two bed flat - it'd be cheaper to pay the 12 months rent rather than an 11 month contract and have the 3 bed semi. As you'd have 3 sharing and not 2 - but doubtful that landlords want to rent to students unless they are student landlords. Its a right rip off

Spare rooms is another option for cheaper rent, rent a room in a house would be far far cheaper but not possibly the experience that your dd wants - but rooms rent for around £400 a month on average in my town which is far cheaper than the £725 for a flat and bills on top

I think it's absurd that parents are expected to pay. And as for most parents being able to save for their kids each month from a young age is a pipe dream for most. I have 3 children. Single parent. 2 are twins. There is no spare money per month. I won't be paying for uni I simply can't

Ah, terrific! I love seeing people become mortgage free! Many congratulations 🥂

Is university the only route to what she wants to do? A degree is all well and good but experience counts for a lot. In some industries advanced apprenticeship programmes are more useful as they gain the qualifications tailored to the industry with the employer paying the course and a small wage whilst gaining lots of experience without gaining debt. I know a lot of people who don’t use their degree but are still saddled with the debt.

I saved and went backpacking instead of uni and then started in an entry level job in an industry where the important qualifications are done alongside working to gain experience rather than uni. I’m doing those now as I want to advance my career (4 years squished into 2 years alongside full time work and family life) but wish I’d done them earlier. Once qualified the job options average £45-50k and in 5 years I could progress to £70-80k. Although university degrees are essential for some careers, they are not always the best route for all career options

Pick the cheapest halls in Year 1 (they might like a double bed and an en-suite but they don't need one!). Uni owned halls are often cheaper than private halls and tend to have shorter contracts (so you pay for 40 weeks, not 51).

Look at the costs of private rentals for Year 2 and 3 and consider choosing a uni in a cheaper city - rents are going up everywhere, but it makes a huge difference when you're paying £400/month for your room in eg. Cardiff rather than £650 in eg. Bath or Bristol, less than 50 miles away.

If she's really bright, look at the Oxbridge colleges which can accommodate their students for all three years, as the hall costs tend to be subsidised.

Find out about bursaries and scholarships for students for lower income families.

Have a year out before to work and save up, or expect to work during term time or summer. Even if she's autistic and anxious, some low key work experience will do her good, if she eventually anticipates getting a job after she graduates. She might be able to find something non-customer facing eg picking / packing orders in a warehouse if she doesn't want to wait tables or work in a bar.

Sorry, I meant to add this about the most affordable student cities:
https://www.natwest.com/life-moments/students-and-graduates/student-living-index.html#affordable-UK-university-cities