How much for university?

[silverfridge21]

I'm wondering how much you'd ideally want put aside for a university fund? One dc

Appreciate the answer is probably ££ but wanting to get a realistic feel re living costs

And then some contribution towards maybe not taking the full loan- or take the loan but could be used towards a house deposit?

Not sure what financial planning I should be doing!

We paid everything for DD as we didn’t want her to leave Uni in debt and wanted her to focus on achieving good grades rather than being burnt out studying and working. Before she went to Uni she was able to cook from scratch and live within her budget. We also paid all of her fees and living costs when she did her Masters and helped out with extras when she did her PhD. She worked every holiday and has a very responsible attitude to money. I would put away what you can reasonably afford and ensure your child understands the value of money, can live within a budget and cook from scratch. Some of DD’s friends simply went mad when their loans and very generous allowances were received and then were stressed about how they were going to manage. Had they learned how to budget properly their lives would have been easier.

Sounds like quite a lot of us are paying a similar amount of about £500 per month per chid even though each family has a different system for working out the costs.

bouncydog do you only have one at uni?

Trewser - she’s finished now. Was awarded her PdD recently. But yes only one.