How is your child covering tuition fees?

[Carrythelight]

I'm trying to calculate to what extent we (exH) can help fund DS through uni. The thread 'how much do you give your child at uni' has been extremely helpful, but nobody mentions how tuition fees are being funded. Many of DS's friends' parents are apparently covering them (and accommodation and even living expenses) - but is this really the norm?

I'm not in a position to cover fees and accommodation (he's eligible for min ML and will get a job), however I could extend my mortgage. Do people do that?

Loan for fees, we paid accommodation, maintenance loan to live off plus we paid for big ticket items such as gym memberships, holidays with history society, American Football kit, ball tickets, bus pass for one of our DC etc.

Both my DC are funding themselves generally. Student finance for tuition fees, maintenance loan (they only get the lowest amount) and then working. The timetable of their uni courses means they have plenty of time to work.

I help out where I can but divorced, and because of the thresholds for the loans never moving, they don't get anymore, even though I am not earning a huge amount. Divorce also meant taking on a new 25 year mortgage so I just can't do more.

SFE loan for fees, although dd is having to top up her Masters fees and will work over the summer to do so.

Thanks @AprilBunny. I think that's where we're heading too, but I was beginning to think we were the minority for taking the tuition fee loan.

@CandiedPrincess I'm exactly the same. Just taken on a new mortgage following selling the marital home and DS only eligible for min ML, so help is limited, but I'm financially risk averse so I'm worried DS being saddled with so much debt

Realistically the loan is unlikely to be repaid in full and is more of a graduate tax . Martin
lewis is good at explaining it.

I didn’t even consider paying the tuition fees. I do have savings for my DC and will use this if they ever buy a property or buy a car etc.

SAAS. They will cover the college fees. He has a part time job too to help with day to day costs and living at home will help too.

He will not be taking out any loans.

You would not be in the minority at all. I can't find stats on it but it's incredibly normal. Do you live in a very wealthy environment?

Student finance loan for fees and Minimum maintenance loan . We make up the difference to the full student loan amount . They are on a full on stem course so don’t do term time job but work in holidays . I pay insurance and do a big shop at drop off . It’s been fine . They haven’t had to use their overdraft

https://www.confused.com/student/student-finance-facts

This fairly credible source suggests it was 95% 4 years ago, I doubt it has decreased since then. It doesn't differentiate between tution and maintenance.

DD had a loan from Student Finance (SFE) for her tuition fees, and we paid her accommodation.

For her masters we are paying her accommodation and she has an SFE loan and an NHS bursary for living on, plus her savings as she worked for two years between undergraduate and post graduate education.

Surely almost everyone takes the tuition fee loan? The maintenance loan varies so lots of families just get minimum and pay accommodation. But yes surely even then you get the fees loan - it's not assessed on income, and is unlikely to be oaid back by lots of ppl.

Nobody talks about it as virtually everyone takes out the tuition fee loan along with the maintenance loan.

Under the current plan just over half of students are projected to pay it back in full. So it is realistic to consider that your child might. And those in mid-incomes are likely to pay the most as they will consistently pay 9% of their salary, but not earn enough to clear the debt plus interest.

In Scotland so no tuition fees
We give our DC 1100 a month to cover rent and spending money
No loans
Also still pay some stuff we have always paid eg phones and contacts

Yeah, south east 'commuter belt'. Although state school, we're still in a bubble. I know, in England, only 31% of 18 year olds go to uni, but def not round here.

Data for 2021/22 indicate 5% of full time UK students took out no loan, 6% a loan for course fees only, 4% a loan for maintenance only and 85% loans for course fees and maintenance.

Thanks @PerpetualOptimist. So am I right to say 9% did not take out the tuition fee loan (the 5% plus 4% maintenance only)?

@Carrythelight yes, looks that way. I suspect most/all of those taking only the maintenance loan were only eligible for the minimum maintenance loan.

I would be surprised if the numbers taking tuition fees hasn't decreased. 2021 students were on a different payment plan. (Obviously most people will still be taking the loan).

We pay. None of my kids have student debt. This used to be uncommon in my kids social group (independent schooled) because their parents drank the koolaid that student debt wasn’t really debt and irrelevant in the long term, but now that people have woken up to the fact that this an additional NINE PER CENT for working life in most cases, and the government can and has made retrospective changes to the terms and conditions of the loans, it is increasingly common. But they don’t talk about it and have warned their kids not to talk about it because it is a privilege to be able to afford it and people don’t like the privileged.

We pay tuition fees and accommodation and a monthly allowance. DD graduates this summer, and will be debt-free. DS is only in his first year, so we have a way to go.

We’ve strongly suggested to them that they should pay the 9% their peers will pay on loan repayments into their pensions once they start working.

That’s good @OublietteBravo . My Dd def does but I haven’t checked with DS. Other 2 still going through/about to start uni.

We pay DDs tuition fees, accomodation (5k) and £450 a month and she has the minimum maintenance loan and works in a university job and a holiday job here. We only have one out of 2 at university which helps and it's from savings / income. I definitely wouldn't get into more debt yourself. I saw this from Cambridge which shows even there 2/3rds have the tuition loan so it's still the majority even at universities with a wealthier intake. DD was at state school. https://www.varsity.co.uk/news/28251#:~:text=Only%20two%2Dthirds%20of%20Cambridge,%C2%A3141%2C210%2C%20Varsity%20can%20reveal.

My DD is on a gap year and goes to University in September. She is working and saving, and (with some money from her grandparents) will cover her accommodation and living expenses. She has plans to work with the same employer during holidays to top up each year.
DH and I have her tuition fees set aside for Yr 1 and 2 and hopefully Yr 3 will follow suit. The plan is for her to complete without taking any loans and emerge ‘debt’ free.
We are by no means well off and I am working all the extras I can to make it feasible. But we don’t do big holidays, have no mortgage and consider this an investment in her future plus DH does not trust the system to suddenly change the rules and call in payments in the future.