Realistic Uni living costs if child stays at home

[profpoopsnagle]

My DS is looking to stay at home for possible uni study. The nearest uni offers a suitable course and is about 8 miles away, though he would have to get a bus at first.

So he would get a student loan to cover the tuition costs. We would not charge him rent or for anything like food, but he is going to need some money for other living costs- bus fares, stationery, some going out etc.

If you have had a child stay at home for uni, what approximate budget have they had? I fully appreciate it's likely to depend on a few factors but this is new to us as DD moved away from uni, and I suppose it's knowing if he should apply for a living costs student loan, or if we could cover it, or using income from a part time job.

Has he got a job? If so, I'd say that's his fun money and you pay for travel, phone and lunches. Bigger expenses such as clothes I would probably offer some money too.

He’s going to need money for socialising, any course equipment, any clubs he may join, travel costs.

I would either give him money equal to the loan he can get or let him take a student loan. This will also teach him to budget.

Surely he should fund all his expenses from a job? You’re already covering all his living costs and a job will give him valuable work experience, a loan will give him debt.

With dd, she had her own car.
She went to a uni in the next city.
She took out tuition fee loans and the basic maintenance loan of £3.5k.
We gave her an allowance of £150 per month, too.
She worked in the summer holidays (in fact she had two jobs..) to bolster her savings and fun money.

As to how much - the same as what he spends on his social life now plus bus fares? His stationary needs aren’t likely to differ from A levels, nor his clothing needs etc.

Fees examples: The car park fee per year was £90 (x3)
Gym (which you had to join if you wanted to play sports) £280 per year (x3)
She needed a new laptop, and had to buy some books for her dissertation in her final year.
There are always more expenses than you think!

Yes, I think it was the 'hidden' costs I was trying to think about. In his (and my) head it should be cheaper than living away from home but there are always more expenses than you realise.

He is planning to get a job to fund as much as possible. He's quite loan adverse, hence another reason to stay at home. I do get the point about teaching him to budget, he is pretty good at doing that now albeit on a smaller scale without living costs etc.

With DD, we had to top up her maintenance loan by around £2500 per year, so if he is getting free accommodation/food, that could be considered as our contribution rather than money. We currently pay for his phone (£10/month) and we'd pay for the travel. His job could then pay for the fun parts and extras.