Parent top up - what did you get

[Awayinthewindow]

I read a lot about parents top up to the max loan and the amount parents contribute these days. As someone with young dcs who went to uni around 15-20 yrs ago I'm curious how much did your parents contribute around the 2095-2010 era and is it really every parent topping up £5-10k a year now?

Around 1990, no tuition fees, lived on grant + £50pm from parents and overdraft.
I give DC about £6k a year to top up from min to max loan.

@RecallItAll

i’m telling you now that I witnessed first hand people still going to freshers, nights out etc, even people who were on my course (which is baffling in itself). You’ve completely misinterpreted what I was intending by sharing my experience. I’ll support my son if he decides to go to uni, of course. I didn’t have it easy but I also had it no where near as hard as some of my friends. Uni is also, as expected, going out of “fashion” as a lot of jobs don’t necessarily require degrees and it isn’t for everyone. I was the first person in my family to go to uni and had an amazing support with some financial support. I didn’t expect my parents to fund me but when they gave me occasional financial support, I was very grateful. I think some parents are still stuck in “old-fashioned” times and think kids need to figure it out themselves as uni is a choice. It doesn’t make them shit parents but not everyone will agree with everyone’s parenting views. My parents had a hard upbringing and didn’t get any support to even attend universities so the emotional support I had was far more valuable to me, imo. Don’t need to get shitty about it. I wasn’t calling you out for giving your kid money and you don’t need to slate others who don’t fund their kids.

2003-2006, parents paid tuition fees only as these were means tested. I had full loan with interest rate of virtually zero, it was around £4k per year I think. Rent was around £50 per week. I had a part time job some of the time but it was possible to live without.

My dc aren’t old enough yet but I’m aware that parents are expected to pay now as the loan is means tested - expect to have to contribute c £500 per month per dc.

The one big elephant in the room is the huge expansion of HE. Far more students enrol now there is no cap on recruitment: from 2014 onwards. It’s a hugely different landscape from 1998.

It definitely is not going out of fashion either. This is partly because degree apprenticeships are so hard to get and are only a tiny fraction of undergrad student enrolments. Parents are paying for increased participation and increased building costs to house all these extra students. Plus housing shortages pushing up rents in cities when students move out of halls. Also many students won’t share bathrooms and parents pay a premium for new halls. No sharing these days.

This brings us to who else is paying for the expansion. In the first instance the government. Probably by borrowing. Students currently owe £230 billion in loans(House of Commons data). Until recently, less than 30% repaid the loans before they were written off. So many did continue to get a lot from the state. The new loan plan is expected to produce 65% paying off the loans because it’s now over 40 years. The key to paying less is to earn very well and pay off quickly. Or earn little, work part time and stay at home with dc!

Essentially more dc going means parents have to contribute more . We all know the government purse is empty and grads do earn more money than non grads. So who should pay? There are thoughts it should be employers based on grad recruitment. They might reduce grad recruitment if this happens. This could make degrees less attractive. Students should think very carefully about uni and costs anyway. Right now. It’s not worth it for some but is very much worth it for others.

Good, they should be able to socialise, but ime, most don't seem to have loads of cash to be out a lot. Some are struggling to afford food without going out. Making out like most student are rolling in cash is a joke and sounds like someone who is talking nonsense.

The fact is that if a student only get the minimum maintenance loan and parents thought like you, that kids should sort their financial situation out, then they're down thousands of pounds just by paying their rent. Lots of courses really don't allow for students to work that much to make up the short fall, not if they're going to keep up with their studies anyway.

A lot of jobs require a degree, if not straight away, then later for any real career progression.

If parents have the money, and their child chooses university, I do think those parents that don't help are shit. I almost didn't go years ago due to it. Thankfully a lovely teacher helped me through the process but it was hard. I had very little free time of spare money as I was working so much.

Your views don't seem based on the reality of being a student right now.

@RecallItAll

i went to uni 2018-2021 which is the most recent on this page I think (haven’t thoroughly looked). I’m 24, so went straight from college to uni. My partner never went to uni and earns more than me in a very decent job, that didn’t require a degree. A few of my friends don’t have degrees but also have jobs that they want to do. I never made out kids are rolling in cash? You seem very hung up on defending the way you parent and that’s fine (although slamming others as “shit parents” just makes you seem like you feel better than them?) I’m sure your kid(s) are extremely grateful and I’m glad they have supportive parents like you through a milestone in their life. Are you just wanting me to agree with you rather than bouncing back and forth?

No, I just can't stand the attitude we see so often on mumsnet that young adults are entitled, well off, not working hard and can't budget etc. The reality for a lot of students (and other young people) is very different.

If parents can afford to help, I strongly believe they should, and if they don't, they are letting their kids down. It's different if they can't afford it and I don't think the threshold is high enough for only getting the minimum loan, so I know there are parents who can't afford to help easily. No bias as were well above the threshold. I've just seems too many young adults have to work too much or that end up dropping out due to financial struggles.

You lived rent free at home . My sons rent in halls was £8k and others pay similar. That makes a big difference that you're just not getting.

We work in tech and finance and we wouldn't have progressed without our degrees.

I agree with @RecallItAll

@NavigatingAdulthood You didn't have to pay rent. That is the biggest cost. It would be fine to live on the minimum maintenance loan living at home with parents with no rent to pay.