how much does going to university cost ??

1234568»

Comments

  • jaimeo
    jaimeo Posts: 94 Forumite
    i" totally agree with you all.... i am totally oppossed to what is going on.... and this excludes a car"

    so 20k total. your only option is to convince your other half. otherwise things look bleak.

    if he is being looked after like this now, will he ever have to look after himself? if you have the money to give him then why not give him 20k i suppose.

    I have mates who have eevrything paid for them...tell you the truth i used to resent it, but hey...it doesnt make them bad people just coz their parents are rich. Of course, 50% of people in the paid for catagories are idiots but im sure they would be that way, spoilt or not.

    Was he used to this sort of standard of living beforehand? is he doing well at uni? can you truly afford it?

    J
    Err, I'll get back to you about the funny signature
  • crana999
    crana999 Posts: 573 Forumite
    Oh.. and I would like to just add that altho I know i spend less than most students, I think i have a pretty good lifestyle. I eat well, I go out often, I pay towards my boyfriend visiting me every 2 weeks, etc..

    what I am trying to say is please no one think "well, it might be possible to live like that but you would never have any fun" or whatever, because it's not true! :)
  • student100
    student100 Posts: 1,059 Forumite
    Combo Breaker First Post
    One statistic you might find a bit shocking:

    The average graduate starting salary is about £20000. (the figure varies a bit depending on who you ask, info here).

    That is gross. So if your son is fortunate enough to end up with an average graduate job after he graduates, after tax, NI and student loan contributions, he'll be earning substantially less than he is spending as a student.

    Whilst you may be happy (or at least able) to support your son's high expenditure while he is a student, I'd have thought that sometime after he graduates you might expect him to become financially independent...?

    I'll say no more.
    student100 hasn't been a student since 2007...
  • jaimeo
    jaimeo Posts: 94 Forumite
    about my grad job pay offer!

    j
    Err, I'll get back to you about the funny signature
  • Haize
    Haize Posts: 23 Forumite
    I find it rather a shame when I hear people (either parents OR students) saying that the student involved will HAVE to take a part time job at uni. In certain circumstances, when parents can't pay the amount the funding people say they should, this may be the case. But quite frankly, it is very rarely a neccessity.

    I receive the full loan and pay no tuition fees, and although I have slipped considerably into my overdraft (approx £1000), I have now nearly finished my 5th year of university. Most students have the option of going home to their parents over the holidays, and I did that for most years. Every summer, I worked (manual labour, of all the exciting things), but that was all.

    The problem is that people working part time during term times and over christmas and easter may be paying less attention to their studies than is needed. Some people are organised enough, but I would never have been able to cope!

    I think the worst statistic that is quoted is that of clothing (I spend less than £150 per year on that*, but fortunately do not give a %?%! about fashion).

    The best saving I think I make (because after all, I realise not everyone can stand wearing combats and plain t-shirts all the time) is on food - there are four of us living in rented accomotation at the moment, and as we are good friends and away from the main studenty bits a little, we nearly always eat evening meals together. We have a sunday roast about every fortnight and eat very healthily - for a grand total of £15 per week each. Last year there were only 3 of us in the house, and food was £20 per week each. It's amazing the saving you get from feeding people together!

    Oh, I'm afraid I don't exactly keep an eye on budgets much, but my husband & I (both final year students with no external assistance) just about manage to run our luxury - an R reg rover 214. That is by far the hardest thing to cover, and we can only afford it due to it being a joint venture.

    * That's not true this year - I spent rather more on my wedding dress for last summer. Hopefully you'll agree that that shouldn't be listed in uni costs!
  • sleepy
    sleepy Posts: 391 Forumite
    I consider myself lucky because my parents pay for my rent (£2900 a year).
    Everything else comes out of my student loan (I get the full amount of loan £4,000 a yr and I don't have to pay the £1,000 tuition fee). I spend just under my loan amount each term, so just over £1,000. This pays for everything - food, bills, broadband, books, leisure, clothes, travel, everything.
    So if my parents were like you and going to pay for everything I'd need about £6,500 a year. And my friends think I spend relatively a lot!

    Are you sure your son isn't squirreling the money away somewhere? My housemate doesn't get a student loan his parents give him a living allowance. In the last 3 years he has built up £12,500 in savings, just from that allowance from his parents!
    Personally I think that is a bit greedy of him and he should stop taking their money - but that is probably just my jelousy talking. He already has a car and his parents are going to put down the deposit on a house for him when he graduates, so it's not like he needs to take their money. (oh can you tell how jelous I am - it'll be decades before I can afford a house!)
  • Midget_Karen
    Midget_Karen Posts: 127 Forumite
    15k - that's crazy money!

    I'm at uni in Durham. My student loan almost covers my rent (inc. bills and meals) during term time ~ £3300

    Aside from that, my parents give me £300 per month, from which I buy everything else, including running a car (worth £1500, not £12k!)

    I don't have a part time job at uni because I've been playing uni sport where I've been training 12-14 times per week, which doesn really leave time. It's an expensive sport to take part in, so the £300 per month doesn't cover everything but I saved £3k over my gap year, so used that for the difference in the first two years, and my overdraft in the second two.

    I also take a job over the summer holidays for about 6 weeks, earning £150 - £200 per week depending on what comes up.

    So, each year (aside from rent) I'm spending 12*300 = 3600
    Make up from savings / loan = £1000
    Summer holiday work ~ £600
    which Totals £5200

    just for the things exc. rent and food, but including socialising, training, equipment, and car.

    I'm not especially careful with money, and running my car is expensive (but again, necessary for my sport).

    So how he is managing to get through £15k I can't work out!!
    Proud to have become an Ocean Rower in 2010 (crossed the Atlantic in a crew of 4 ladies and had the best 77 days of my life!)
  • Dub-ztar wrote: »
    From my experience of going to univeristy in London and living away from home, my expenses over three years were as follows (in pounds):

    Rent: 10500
    Phone: 3000
    Food: 8000
    Clothes: 1200
    Books: 1920
    Laptop: 1500
    Travel: 1500
    Socialising: 6750

    Total: 33, 170

    So there you are, not cheap at all.



    is 10500 for rent per year or over the 3 years?
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    First Post First Anniversary
    kane102 wrote: »
    is 10500 for rent per year or over the 3 years?

    You have just updated a thread from 2005. I know you are knew, but have a look at the last post and just above the users name, is the timestamp from when it was posted, try not to bring up threads that are 6 years out of date ;)
  • My son's up in London, going into his 3rd year in Sept. Just had his student finance through for this year

    He gets a fee loan of 3,375.00
    a non repayable grant of 920.00
    maintenance loan of 6271.00 (London weighting)

    His rent is 362.50 a month (shared house)
    Share of bills (internet/gas/electric) 30.00 pm
    Mobile phone 30.00 pm

    He gets a small bursary reward for good attendance/good grades at the start of the 2nd term which can be spent on travel, books or stationery - he usually uses it to top up his Oyster card

    We order him a tesco grocery delivery once a month and I spend on average about 65.00

    Clothes he either gets bought by me or his girlfriend or given stuff his brother doesn't want, or if in desperate need of an item will shop at George or Primark

    He does have a student overdraft as well because when he first went we had to pay 750.00 upfront for rent in halls and had no way of finding this by other means but tries to reduce this by a bit in the summer holidays from any work he can get.
    Over futile odds
    And laughed at by the gods
    And now the final frame
    Love is a losing game
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 343K Banking & Borrowing
  • 250K Reduce Debt & Boost Income
  • 449.6K Spending & Discounts
  • 235.1K Work, Benefits & Business
  • 607.8K Mortgages, Homes & Bills
  • 173K Life & Family
  • 247.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards