Supporting DC at university- how much did your outgoings change?

[Majoring]

Inspired by the retirement age thread!

If you're DC only qualified for the minimum loan how much have your outgoings changed in either direction once they started uni? (Assuming you're weren't paying school fees)

We currently pay a lot each months for clubs, music lessons etc and I'm hoping monthly spending may even go down? Saving a bit each month specifically for the loan shortfall but that's becoming harder to do.

Im hoping my DC will be able to get part time jobs too. Lots of variables o know but just wondering what others experiences are?

£15K would be exceptionally high costs for a student though. (£3.5K plus £1.5K min loan for 1/3 of the year)

No. Her minimum loan was around 1600 in Sept, 1600 in Jan. Her rent was 7k a year. That was 2800 to pay in Sept, 2800 in Jan. Less in May but more loan (as a bigger slice in may) which covered it. So 2.5k rent money needed from us plus living expenses.

Over four months, Sept Oct Nov Dec and some of Jan.

@Sadlifter Yes I agree, I think many assume that the maintenance loan will be a. the full amount needed to cover accommodation b. paid in a lump sum or regular equal amounts to rental costs c. That the accommodation will be rented for the actual duration of the course not for a full 11/ 12 months of the year.

Amazing how parents are told they effectively have no longer have any input in anything their DCs except that is when we expected to pay for it all and act as guarantors

@UsingChangeofName Sadly due to accommodation shortages some students have little choice but to take the more expensive options which leaves parents with an unexpected big gap to fill financially. I know many this year have deferred due to accommodation shortages and I suspect this situation will only get worse.

I pay rent for my son and he uses minimum loan ( and part time job) to cover all other costs. It was approx £550 per month. I don't think we saved much as was not an expensive teen at home - maybe £100 or so.

Same as above
we pay £550 a month rent
he has the minimum loan of £4400 ish for living and says he has enough money.
we are saving about £150 a month at home, he eats a lot!

I would have been fine helping my DS at uni from this September but the rise in energy bills has really hit my income. It’s going to be financially very difficult. To be honest I wish he would get an apprenticeship rather than go to uni. I think it is being priced out of the average income range.

We paid the rent and they get the minimum loan. It was £8k for the year, quite high but catered and ensuite.

I have suggested to them to invest 20% of the loan at the beginning of each term so that they can get experience with that and hopefully see that grow - not sure they will though. They also got the lump sum from the Child Trust Fund which we opened an ISA account with that, so hopefully that will grow a bit and they won't dip into it, can't guarantee it though.

They get weekend and part-time work through an agency too so that tops it up.