How much should parents contribute financially?

Fang_3

Person_one wrote: »

Well Fang, you're so prolific on here its only natural we might wonder about the real you!

I only make about 10 posts a day! Hardly prolific! And you may wonder all you like, just don't get too close, or I shall release the hounds!

Narla

Thanks for all the replies.

Surfbabe wrote: »

My Daughter is in the same situation but we transfer £40 a week to her account to cover food, bills, and any other expenses she has - her loan just covers her rent . Anything else she has to take out of her savings or use her very small overdraft (£300). She doesn't have a credit card either!

She manages really well on this.

Thanks - I think this is a reasonable amount we could afford to offer DD - at least until she gets a part time job. After losing child benefit that equates to £60 per week. I'd love to be able to overpay this amount towards my mortgage! I'm also paying off my own student loan after being a mature student in 2003!

I also have a 21 year old DS doing an apprenticeship and who has borrowed money off me to buy his car as his income is so low, which I don't mind but I also have to consider that I should not be handing out money to DD when I haven't done to DS!

DD has been offered a place at St Andrews and York (1st and 2nd choice) and I'm so proud of her. She has worked hard and although I want to be able to support her there's no way I am going to allow myself to get into further debt. I'm so grateful that she can start her course this year before the 2012 fee increases.

thanks, Narla x

minerva_windsong

I went to York. It's a brilliant university - nice campus (although some of the buildings are a bit concrete blocky but the newer ones are a lot nicer), good location for getting into town, really good positive atmosphere, loads of different societies to get involved with and the city itself is lovely. The one downside is that it's more 'pubby' than 'clubby' in nightlife terms, although there are a few student clubs and bars - and a really good indie night at Fibbers on a Saturday if she's into that kind of thing - but if you do want a big night out Leeds is only 40 minutes away by train.

Person_one wrote: »

Its worth bearing in mind that getting a part time student job is a lot harder now than it used to be.

Older, experienced, qualified people are now applying in their droves for the jobs that used to be almost exclusively the domain of students.

The other thing I would say with the part time jobs is to get in there quick, especially for things like working in campus bars/shops as these tend to be the most coveted, particularly the bar work as the pay is pretty good and they're generally quite understanding about exam pressures etc. It may be worth getting onto the uni's career service which will advertise part time jobs as soon as her place is confirmed, or going up there to hand out CVs a couple of weeks before term starts.

donquine

However much you give your student child, they will learn to live off it.

If you give them £100, they will shop in Aldi and learn to live off beans on toast quite happily.

If you give them £500, they will shop in Waitrose and acquire some very posh tastes and eat very well indeed.

Now, if suddenly you can't afford to give them £500 and have to scale it back to £100, they will struggle. It won't be the amount that's the issue, but the shock to the system.

Whatever amount you choose to give, do your best to make sure it's an amount you will consistently be able to give. (Obviously, you can't plan for things like redundancy, but if you're stretching yourself now, it may not be sustainable in the long term.) If you want to give a lower amount now and increase it as the years go on, fine. But if if you have to do things the other way round, you will probably hear some very ungrateful murmurings.

minerva_windsong

donquine wrote: »

However much you give your student child, they will learn to live off it.

If you give them £100, they will shop in Aldi and learn to live off beans on toast quite happily.

If you give them £500, they will shop in Waitrose and acquire some very posh tastes and eat very well indeed.

I'm assuming you're at least partly being sarcastic, but I got £100 a week and I cooked proper food and shopped in Sainsburys thank you very much!

liney

minerva_windsong wrote: »

I'm assuming you're at least partly being sarcastic, but I got £100 a week and I cooked proper food and shopped in Sainsburys thank you very much!

I'm pretty sure she's referring to Monthly amounts.

minerva_windsong

liney wrote: »

I'm pretty sure she's referring to Monthly amounts.

My mistake, I apologise.

donquine

liney wrote: »

I'm pretty sure she's referring to Monthly amounts.

I meant monthly, yes. JSA is only £50 to £65 a week, £100 a week to live off would be pretty decent! Especially when the 'pocket money' given by parents is sometimes on top of what they contribute upfront towards university accommodation etc.

I do think however much money you get, you will use it all. People generally cut their cloth according to their means. The problem only arises when the means drop unexpectedly.

stedwell

Hi
Reading this thread with much interest. My daughter will be going to uni in 2013 so hitting the probable £9000 a year tuition fees. I am worrying already and trying to put money by now so that I can support her when she goes. In light of the huge increase of fees does anyone think that parent contributions will have to increase too?:(

Lokolo

stedwell wrote: »

Hi
Reading this thread with much interest. My daughter will be going to uni in 2013 so hitting the probable £9000 a year tuition fees. I am worrying already and trying to put money by now so that I can support her when she goes. In light of the huge increase of fees does anyone think that parent contributions will have to increase too?:(

No.

The parent contributions which people are talking about are for living costs.