University: weekly money needed as 'extra' in 1st year (catered accomm)

[GLVF]

Eldest went off to uni for first time yesterday. We briefly discussed what we'll give her as an allowance to live off for extras, but I'm wondering if this may need revising.

She's in catered accommodation fairly close to campus. So, the main costs I foresee are:
• 5x sandwich-type lunch (Mon–Fri lunches are her only uncatered meals)/occasional snack or coffee out (we did pack her off with snacks)
• evening drinking/clubs (but she's not a huge drinker)
• possible bus travel (unlikely, as fairly central to uni/shops)
• very occasional extras, like haircut/cinema.

We plan to help her separately with printing/laundry/books costs, so I'm really focusing on main weekly expenses throughout term-time. What kind of ballpark are we thinking in the modern world to help her start to budget without leaving her hungry/deprived?! Are there many things I haven't thought of?

Our thinking was – very simplistically – £5 x 5 for sandwich + snack/coffee during day, and £15 x 3 for nights out, which equates to £70/wk. It should leave a little extra, potentially, if she's careful, as she rarely drinks more than 2-3 drinks, and has plenty of snacks for the time being.

Of course this will depend on family circumstances and location of uni, but a rough idea from those in the know would be helpful. She's been earning a little (waitressing) throughout sixth form and is usually fairly careful with money.

Thanks!

Similar situation here but mine is using the minimum maintenance loan- I asked them to save £200-300 a term for rent since they shouldn't need quite all of it.

does she need toiletries/cleaning supplies/sanitary supplies/etc?
membership of e.g, gym/choir/sports teams or other clubs and uni?
tickets for any sort of events or activities, special dinners etc?
travel to nearby cities on occasions?
taxis home from nights out?
extra clothes/pants/socks/warmer clothes for things that wear out or that she needs more of or more suitable ones, throughout the term?
gifts for friends birthdays etc?
photocopying/stationery?
medication?
bike and maintenance?

those are necessarily weekly costs, but things that she could need over the term, whether from her work or allowance or whatever

How much money will she have leftover from her loan once accommodation is paid?

You've missed toiletries from your list of things she'll need.

What is her loan situation?

Laundry costs?
Make up and toiletries
Phone
Photo paying and stationery (they don’t print much these days but might incur some costs)
Set books/course materials
Gifts
Taxi’s after nights out
Travel home costs

Hair cuts etc do when she's home for the holidays she doesn't need to budget that particularly.

Lunch, does she have access to a kitchenette so could take her own lunch? I don't think it's good to get in the habit of meal deals everyday. Soup in a flask, Ainsley Harriet couscous packs made with a kettle and a can of tuna in tupperware etc. I'd perhaps send her a care package / supermarket / Amazon delivery (its always nice to receive one a few weeks in), with a flask, reusable water bottle, basic toiletries if she doesn't already have them.

How much would she get if she had access to the full loan? Top it up to that.

You've missed off some regular costs as others have already pointed out. But, I think £70 a week seems not unreasonable.

My DD is in self-catered accommodation but it's working out at about £100 a week once she's paid upfront for a few things (that's on the basis we are paying her rent and she is using the minimum maintenance loan).

Thanks, everyone. Yes, I've sent her with loads of sanitary supplies, cleaning products, plenty of usual toiletries, stationery, some cup-a-soups/baked beans/coffee/snacks/fruit etc. (though she won't be near her halls during the day so making her own lunch isn't necessarily an option). We pay her monthly phone charges, and I'd cover any obvious anomalies and extras like books/presents/memberships, and special trips etc. Haven't really included taxis; not sure how often that will be a thing.

She hasn't got a maintenance loan (she only got one for tuition fees), as we're hoping to cover what we can and then she repays us anything remaining – with minimal (and not compounded) interest.

Basically, we've done a big shop and covered what we can for as long as we can.

... So it's really 'just' the standard daytime stuff like a weekday lunch and some drinks for a few nights out. Wondering if I'm in the right zone.

Our DC will have the minimum maintenance loan for all spending. That's just over £100 a week. Any more and he will have to work / take it from his savings. He won't be in catered halls so this has to cover his food too.

My DC has full catering - 3 meals a day, 7 days a week included in their rent.

We are working on him having £80 per week, 10 weeks per term. So £800 per term. We are paying it upfront at start of term, as things like JCR membership and Freshers week are bigger one-off expenses.

DC will arrive with a stock of snacks and toiletries and stationary.

I think this is plenty of money. DC has worked over the summer so has a couple of £k saved, should they need to draw on it. We are arranging the terms payment upfront so they can budget - some early weeks will cost more, but some weeks may involve spending of less than £50.

In holidays, he plans to work a bit, so his earnings for then will tide him over for holiday periods.

We will cover the upfront payments for the house for 2nd year, which we know will come fairly early this first term.

Laundry is an obvious regular cost you haven't included in your list.

If you intend the £70 to be for "regular weekly" spending, then I'd give her a lump sum to cover what you've called "obvious anomalies and extras". I don't think it's fair to expect her to come and ask for (and justify?) individual sums and money every time she wants something; part of being at university is to gain some independence. Or will she have a part time job that is expected to cover most of these?

DD is in a similar situation but has £25 per week on a loaded card she can use in cafes and shops on campus (no alcohol) as part of her catered accommodation for lunch.
She will have around £100 per week but I doubt she will spend that much to be honest as shes not a big spender (unless I am paying). Her phone is paid for and I don't think she will be spending much on travel but we will see. We have given her enough to last all term and I expect her to manage it but told her to speak to us before going overdrawn or getting into any financial trouble

I would reconsider not taking out a maintenance loan, unless she’s likely to repay her loan quickly it won’t really impact how much she repays, the salary deductions would be the same for someone who borrowed £50k vs £100k for example.

She could then have the maintenance loan for spending money, and if you want to you could save towards a house deposit for her with the money you’re saving.

Yes, I need to include laundry. No idea yet what the costs are so will wait to hear so that we can adapt the money we give. She doesn't need to justify things to us exactly, but that's why I'm keen to hear how much others think is normal for going out and lunch – it's certainly a learning curve for both parties.

I felt my parents gave me way too little as they were very unrealistic about cost of drinks (despite my not being a total raver), so although I don't want to be stingy I also know she needs to learn budgeting and so I'd rather get a better sense of how we can come to a realistic amount.

She's used to controlling her own money to an extent already, as she's been earning throughout A levels and has covered a few minor costs herself for clothes and going out.

Does she have an airer or a hanging clothes rail to dry clothes on? Will save lots on tumble drying, I prefer a hanging rail with well spaced out clothes as you can wheel it easily Infront of a sunny window/radiator and out of the way again

Yes, two of those hang-over-the-radiator/door racks with about 3 rows, and lots of hangers from which to hang stuff.

Think it's a bit frugal tbh but it depends if you're struggling financially. If you're not, I'd give her more for extras and anomalies. Shared taxi back from night out, snacks, unexpected toiletries she needs etc. Then again depends if she has a course where she has enough time to get a job.

Surely she is getting a job to pay for extras? I self funded all my living costs at university, and it's done me a world of good.

My DD is off to uni next year so watching with interest. Her maintenance loan won't even cover half of her accommodation so we are going to need to help out a lot I think :(

Unfortunately a job isn't always realistic or possible with all courses!

My parents have £120 a week (set sum given when at the start of each term) when I was at a northern uni (ten years ago!) plus about £100 a month on top to help cover off my accommodation.

If you look at the maintenance loans and work backwards from there, the maximum loan amount would be what would be given to students to fund everything, so take off the accommodation costs and see what you're left with?

£5 for a sandwich + coffee + snack won't go far for lunches when I think about it, unless she's got easy access to meal deals. I'd probably err more towards £100pw and if she's able to save a bit up to treat herself occasionally that would be nice - uni can be a tough slog so I know occasional treats really kept me going!

Is anyone left with anything after living costs?!! The calculator says my DD will get just under 400 a month maintenance loan but her accomodation is between £120-200 a week depending on the level you choose.

Are you taking the maintenance loan cost as a yearly one? Maintenance loans are paid three times a year, so is it possible you've miscalculated, or is this something I've got badly wrong (we haven't got a loan for maintenance yet but it could be a possibility)?

It's definitely an expensive time. I'm now thinking we ought to up what we give her, but explain it's to cover a few more things (toiletries, etc) so that she can manage things more independently.

Lots of good ideas here, and I'm open to persuasion (like Joan Armatrading!).

I calculated it on the gov website and it said she was entitled to only just over £4000 for the year? I guess I could have got that wrong but I am pretty sure that was what it said?

Just re-did it and it says 4767 per year maintenance loan, so defo not enough for even accomodation let alone anything else. I think I will need to take a second job part time to help her.

The minimum maintenance loan is £4767 (outside London, away from home).
The maximum is £10227

It hasn't increased in several years, so the maximum falls very short of being enough to live on in many areas. If you are doing calculations based on topping up the loan, you'd be better to use the Wales loan value (which has increased) of £12150.

A lot of parents with the financial means to do so, whose children only qualify for the minimum loan, choose to pay the rent and let their children live off the loan, in conjunction with a part time job (if course/opportunities allow).
Working during a gap year in order to save, is also becoming a more common option.

Student Finance Maintenance Loans 2024 - Save the Student

Check this out (How is the Maintenance Loan paid? [says paid every term] AND Maintenance Loans in England 2024/25 [gives the amounts]