Topping up student finance

[MyWetFlannel]

Our son is going to university in September and will receive minimum maintenance loan. We've already paid for his first year self catering halls as he has an unconditional offer so he'll just be living off his loan. My question is, is it reasonable to top up his weekly budget so he'll have about 150 per week so he'll have enough for decent food, a good social life, not have to worry about any materials he'll need to buy etc?

He's had a job since he was 14, is very resourceful and fully intends to work during his studies as he has for the last four years. I just want to make sure he doesn't have to make too many difficult decisions. I was a very poor student and working too many hours resulted in me not doing as well in my degree as i could have so I just don't want that for my son.

I've no worries about his work ethic or motivation as he has buckets of this and suprises me constantly with his ideas on how to make money and how hard he works in his various jobs.

Wise mumsnetters please tell me what your child's weekly budget will be and what you'll be contributing. I'd like to see if what I'm thinking of contributing is reasonable or not.

Thank you ☺

There will always be people with less. There will always be people with more.
Thats life.
My dd has house shared with a lad who doesnt have much. She has shared her groceries or dinners with him at times. Some days he only had cereal to eat so she told him eat from her stash. Shes kind and knows how lucky she is.
Ive reared my dds to never make less of themselves for others and that includes enjoying the benefits of not having to struggle. They dont flash it but they dont hide it either.

There’s a happy medium here OP. I do not want my kids to struggle and by topping up to what each uni recommends (max loan in one case; more in the other) I know that they won’t. Therefore they will be better off than many/most without having to get a job (though they will probably want to). Who wants to be known as the rich kid on campus?! Comfortable yes

I don’t think the amount of money he has will affect his ability to fit in, given they’re all likely to have different amounts anyway - unless he’s the kind who really ostentatiously likes to flash the cash. Kids tend to take their fellow students pretty much as they find them.

My older two both live quite comfortably off the the minimum loan (once rent is paid), so just wondering, if you can afford to top up his loan that much, need he take one out at all? Save his future debt!

Thank you so much for your response it's appreciated. You're doing everything possible for your son and I'm sure he's all the better for his having to budget his loan ☺

It may seem like a different world but it's not one i was born into. I struggled very much while at uni so I do understand the grief not having much causes.

I guess I'm asking for input into what the general consensus in living costs is after accommodation. I really appreciate your thoughts thank you it's helpful ☺

Text books are so expensive. One my DD had to buy was almost £70 for one book. She had to buy about 8 in her first year. Then there is photocopies, and the laundry is expensive too. I think a good of thumb is to make up the minimum maintenance loan to what the maximum would be if you earned less then add on £15 a week to cover books.

This is good to know. We were planning to do the same for DD (starting this september) we are paying for (expensive!!) rent and hoped she would live off the maintenance loan which I calculated as approx £120/week.
I know lots have said freshers week is expensive though but I really want DD to save for that herself. I've been encouraging her to save for years but money seems to burn a hole in her pocket.

Thanks so much for your response. For many reasons my son would like to take the loan. It seems the best option for him right now and we may revisit it when he's older but he wants very much to feel like he's being independent which i respect. He's very mature for his age.

He doesn't flash anything ☺ loves charity shops and second hand. His course is very much about being innovative and that sums him up. I wouldn't be surprised if he gets his new flat mates signed up to a new collaborative business lol

I just don't want him working too many hours, I want him to concentrate on his course ☺

OP has clarified she won't be giving him £150 on top of his maintenance loan, just topping it up by £50 per week so it totals £150 per week.

Thanks for your input. They're all different aren't they? Some love spending and some love saving lol. Whatever we can give, whether that be money/support /advice/shopping, whatever, we all want the best for them and for them to grow as people.

Well done to all us mums/dads. Just the fact that we're on here asking and answering questions means we care which is half the battle won surely ☺

We top DDs up to the maximum loan so she is equivalent to her peers.

Thanks caringcarer, that's right. Possibly topping him up so he has 150 per week to live off.

To clarify, this includes travel, food shopping, laundry, course materials, socialising, treating his girlfriend (besotted), clothing, etc

We'll continue to pay his phone and gym. Selfishly because I'd like to send him pics of his cat 🐱 and I want him to stay healthy....

My dc live off their maintenance grant ... Plus some extra treats definitely no more than £100 per month if i average it out...and I pay for train tickets home although most of their other transport they pay for ....
I give more when home for holidays as transport dear here....
Its been fine but no materials needed... I would offer a materials allowance maybe?
Dc will be working all summer to fund social life and we will be topping up difference to max loan again next year ....as think will have more adhoc costs not in halls...

Thanks for your response. Perhaps that's the way to go, a materials budget so he doesn't feel he has to work for those at least

My son is in his first year at uni. We paid his rent which was about £7k for halls and he has lived on the minimum maintenance loan easily. We were prepared to give him extra but as he’s been home for a month over Xmas and Easter and will be finished in a few weeks after exams, he hasn’t needed any. He has savings which he hasn’t used for uni, although he has used them for a holiday and other stuff.

We did pay for him to join the Uni gym and sent him back after holidays with food and some just eat type vouchers to help out.

He did work for the first month but it became clear that it wasn’t really going to fit in with his course so he gave it up.

He’s got a job sorted for over the summer and doesn’t plan to take out the maintenance loan this year as he’ll live on what he makes over the summer and we’ll pay his rent again and help out more if needed.

I’d just see how he goes, you don’t need to commit to giving or not giving him an amount now.

Thanks so much for your post that's really helpful. How amazing that your son is choosing not to take the maintenance loan. He sounds very mature and he's very lucky you can pay his digs ☺

I'd very much like it if my son didn't work but i know he gets so much satisfaction and self esteem out of his jobs that i don't try to dissuade him but I do encourage him to not work too much.

He does work full time in all the holidays apart from his first lads holiday he'll be taking in July (which he insisted on paying for lol).

@caringcarer I know. He will still have £150 a week.

Pressed too soon - if they save the £50 per week that's a sizeable amount towards a masters or travel to whatever he does next. He may prefer that

My son gets minimum loan. He uses it towards his rent and we then top it up as his rent is more than his loan.

we then give him £45 per week to live on. He advice for it spread over the whole 52 weeks. If he had it term time only it would work out at £68 per week to live off.

He pays for his own phone and travel.

Hi thanks for your response. Is your advice this is too much?

Thanks so much for all your responses. I think what i may do is send him off with a chunk for freshers and signing up to clubs then offer to pay for his materials.

I know he'll work regardless but at least I'll know it's because he wants to rather than he has to which he'll be very grateful for I'm sure ☺

One thing my parents did which made a difference was birthday and Christmas when I was at uni
I would get stuff like socks, body wash, deo, face wash, pens.. but the nice stuff I wouldn't usually get! And the odd voucher for Tesco

Keep something available because at some point he might be "I've messed up and can't afford this or that, help"

No, not too much because bus pass and course books are so expensive. My niece has some friends who worked so many hours they jeopardized their grading. She says they got a classification lower than her because they didn't spend any time revising as they were always working.

@Exhausteddog talk to your dc about buying the various freshers bundle deal tickets which are likely on sale. The earlier you buy them, the cheaper they are. I'll ask dd when she bought hers.

Also, there seems to be an awful lot of 'pres ' ie drinking at home before they go out, and then drinking much less once out in the clubs which also helps to moderate the cost a little.

He sounds amazing!

Perhaps start him off with a little less and then supplement with treats (I occasionally send my daughter £20 pizza money if I know she's working up to an assignment deadline.). You can always review things at Christmas.

It also really depends where the Uni is. My dd is at a university in the north, where student services, bars, local transport etc are well known to be very reasonable.