Too much income, no spare cash to finance children at uni

Dunroamin

liney wrote: »

Are you sure? That sounds like the total amount for Fees Loan, and Maintenance Loan, ie £3.5k of that goes straight to the university.

It sounds to me that they haven't realised that the maintenance loan is reduced if you get the grant, or they could be studying in London.

duchy

The more I think about this-the more I don't understand the OP.

She has chosen to live with a partner -neither he or she feel able to support her children through university although it is more than possible to afford to do so with their joint household income..........but they expect me as a taxpayer to do it for them ?

The world has gone mad-there was a time that when people chose to live as if husband and wife -the responsibilities of becoming one family go along with it-Now you get people spouting stuff like "Well they've only lived together a year or two" -completely daft-either you are a "family" and live together and take on the responsibility-or live apart until the relationship reaches the point such responsibility is appropriate ? It doesn't seem like rocket science.

Anyway perhaps the kids could do something outrageous like get jobs to support themselves through uni instead or take a year out to earn -or even study at a uni close to home. There's more than "full funding or no uni" as options.

ultimatedingbat

Unfortunatly thsi is the situation your children find themselves in. My parents are married and earn over the threshold but have debts and mortgages as well as a sibling to support, and they can't help me out. So I've made it through on my own. Yes ti was hard. At uni i applied for every bursury going, in the summers i worked 3 jobs to save the money.
It's not always doable to work whilst at university, but find yourselves summer jobs

silvercar

Before living together you should have budgeted for the extra costs it will bring. If it is your partner that is being stubborn, maybe you should use your money to subsidise your children and your partner pay the household bills. As broad as its long, but may be easier on the mind.

I have friends who have delayed living together in order to maximise grants and loans for their children.

It seems that people think about loss of benefits and loss of single person council tax discount, but don't think about the effect on students.

MusicalLawyer

liney wrote: »

Are you sure? That sounds like the total amount for Fees Loan, and Maintenance Loan, ie £3.5k of that goes straight to the university.

No that isn't the total amount including Tuition Fee's. And it does include the discount for getting the Maintenance Grant. I'm studying in London on a 2 year accelerated degree.

I was merely trying to state that there is quite difference between the minimum and maximum amount of loans one could be eligible for, dependent on household income.

Cadenza41

Thanks everyone. Just to put the record straight my partner is the most generous man I know who has no problem supporting my children day to day, taking them on holidays etc, but he can't pay half his net income on my children when he has his own to support. We are not asking for handouts and whatever we do has to be completely above board. I realise that the children will not be eligible for grants, bursaries, I don't think it is right that students going to uni are not able to get a student loan which will amount to those who receive both grant and loan. It seems that we have two options. 1. I use the entirety of my salary to support them and they will still have to get a job or 2. I move out for the next 4 years, which I don't want to do. All my children have said they will try and get a job in the holidays and that they wish they could get a loan. Any one know the best loans to get?

Dunroamin

Cadenza41 wrote: »

Thanks everyone. Just to put the record straight my partner is the most generous man I know who has no problem supporting my children day to day, taking them on holidays etc, but he can't pay half his net income on my children when he has his own to support. We are not asking for handouts and whatever we do has to be completely above board. I realise that the children will not be eligible for grants, bursaries, I don't think it is right that students going to uni are not able to get a student loan which will amount to those who receive both grant and loan. It seems that we have two options. 1. I use the entirety of my salary to support them and they will still have to get a job or 2. I move out for the next 4 years, which I don't want to do. All my children have said they will try and get a job in the holidays and that they wish they could get a loan. Any one know the best loans to get?

Once they leave home for university, can't he use the money he spends to support them day to day to provide a small all0wance? Together with their student loans and part time jobs they should be able to manage quite well.

On a gross income of £65,000, I don't think that anyone would be suggesting that he spends " half his net income" on allowances - that would be over £22,000 pa!:eek:

melancholly

Cadenza41 wrote: »

It seems that we have two options. 1. I use the entirety of my salary to support them and they will still have to get a job or 2. I move out for the next 4 years, which I don't want to do. All my children have said they will try and get a job in the holidays and that they wish they could get a loan. Any one know the best loans to get?

there is a clear third option - they take the loans that they can and work. they get an interest free overdraft and try and work part time. or even a fourth option - take a gap year and save.

this is, in reality, what a lot of students have to do. they do it well and they cope (and many more than 'cope', they do very well!). i realise it isn't ideal but i think you're being really melodramatic about having to move out....

i still don't understand statements like 'they can't get a loan'. there is a substantial amount available that is not related to the income of anyone's parents. that doesn't provide a fun extravagant lifestyle, but with even limited subsidising from you plus overdraft plus work, it is more than manageable.

you can also try to prepare care packages for them when they start uni well in advance. a job lot of tins and store cupboard food is so useful, as is change for laundrettes. putting one thing aside each week from the shopping would give them a great start, but wouldn't cost the earth.

time to think about budgets and reality rather than getting lost in a panic and the 'unfairness' of it. there is plenty that can be done right now - that doesn't involve moving out or anything extreme at all!

hardtoexplain

I'm sorry but this outlook really frustrates me. It is the only way the system can work, and work well. Those who do not have a high enough income recieve the loan but government supplemented grants and those who DO have the income should 'in theory' have support off parents. It simply cannot account for personal circumstances, unfortunate yes but it needs to be looked at like any other loan.

If parents cannot not afford it they just need to say look it is your education you need to work something out. And children should look at this WELL before they even apply to university, which the student calculator can help with. If they aren't responsible enough, parents need to.

If I can work through university and supplement my 3.5k with another 8k through paid employment what's stopping others? Apart from medics, dentists, nurses etc entire other ball game there.

There is no way you need to supplement them with the entirety of your wage, have you worked out a budget yet with them?