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Original poster

Saving for University

26 replies

Combusting · 09/08/2023 18:55

I appreciate so many won’t be in a position to be doing this but I wondered what parents who have or are supporting kids through university would advice to those with younger ones in terms of how much to aim to save?

(I know lots of people feel that University they are on their own and each to their own views of course!)

For context - we’ve got two - 7 and 3 currently. I think MSE advice is to take the loan even if parents have saved for it as they don’t repay unless certain threshold hits? So whether anyone here has saved for fees or maintenance or top ups I’d be really keen to know some figures.

we’ve been really lucky to have £14k so far saved up earmarked for this thanks for gifts from grandparents largely and they are small still (7 and 3). But the amounts needed feel so huge!

OP posts:
Original poster
Combusting · 11/08/2023 09:53

Sistersflowers · 11/08/2023 09:21

They May do a degree apprenticeship, DS is and earns 25k per year and has no tuition fees. Horrendously competitive and I think harder to get a place than a regular course.

I would recommend your children getting a job if they can when older he did and it was the making of him. So by 22 he has already had four jobs and his savings are around 15k, he achieved 3 grade A at A level.

Also don’t tell them they are in for a soft ride if you are going to fund everything. Tell them you will assist but sometimes it can make them a bit crap at life if spoilt. DS has no idea we will be giving him a substantial gift towards his house deposit. We will match what he has saved when the time comes.

Our kids have no idea at all about any savings (or grandparents gifts for their future) and we aren’t planning to change this !

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