How much do I need to save to send ds to uni?

[thatlldopig1]

I have 12 years to save for ds to go to uni. He may not want to go in which case he can use money for something else but I need to make sure I've saved enough if he does

Parents with kids at uni.. How much will I need ?

I have to admit that I don't understand the British culture of moving away for university. Here in Australia, it's most common for people to choose the university closest to where they live and commute while living at home, or, if they are remote, they will live in shared accommodation off campus to reduce living costs.

All students I know work, and it tends to be only international students who have parents who fund their lifestyles.

What a great idea for a post. I am already saving for school trips and 2 of mine are pre school

Statistically though, if you are well off enough to be able to afford to save regularly at what is probably the most expensive time (either when down to one salary or paying out £££ for childcare), then you are likely to be able to subsidise them from your salary when they are at University.
IMO you (that's people generally, not you specifically bluetrampolines ) would be far better overpaying your mortgage when you have "spare money", then a) you save yourself thousands in saved interest and b) you pay it off early and have all that money spare each month to be able to help your dc out at University if that's what you choose to do with it at the time / if the system is still the same / if the dc go to university / if everything goes swimmingly with your life and you've not had to use up those savings before then.

Don't give him a penny.

He can take a loan for the tuition fees, plus a maintenance loan for his accommodation, then he gets a job for his day to day costs.

You don't need to do anything.

If you don't give them a penny and you have a middle income then it rules out many academic courses that have very full on full time courses, it also rules out Oxbridge.

Op how much can you afford to save while still giving him a good and varied childhood that's likely to develop his love of learning and encourage him to want to go?

There's your answer

If you're expecting him to use his maintenance loan to pay for first year halls or even most decent, fit for habitation private rents, he may well be homeless, @HolyPieter. My first year loan was £3,000 and my accommodation for the year was over £5,000. With a hefty deposit upfront. That's some fairly substantial part time job he's going to have to get.

Student Loan. It's not as bad as students make out. Read up on Martin Lewis' website.

You don't send him, he goes.

Just save what you can, no point in being too frugal, you all need to have fun.

If and when the time comes be prepared to pay him nearly all your salary every month for minimum of three years :-).

In twelve years you may find you've come into some money anyway which will help.

When my son was at Uni his rent was £450 a month plus bills on top and food, so total was £600 a month, his accommodation loan was about £3500 a year, he was short by about £300 a month, he worked part time on minimum wage and earned about £100 a month so we had to fork out £200 a month. The rent is for a year and the loan only covers 9 months, you are looking at a top up of about £3000 a year, I hope this helps

Oh and £3000 a year only covers the basics with an occasional night out, we couldn’t afford to pay for an up keep of a car