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University Campus or Home?

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  • stebiz
    stebiz Posts: 6,592 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Wyre wrote: »
    I am not saying she should leave or she should stay, just that debt, or rather the fear of it, should not be the prioritising factor.

    It's not so much the debt but what she could do with the savings. As my wife doesn't work and it doesn't go on savings, we would (or should I say she would) get nearly £8k a year. That would equate to nearly 25k. This is without work. So she could get a nice sum together to pay towards a house herself if she so wished.

    Many people say that she may miss the student experience. Well if that means that she won't have sex, drugs and alcohol then so be it. I'm sure if she's so inclined she'd find that anyway without Uni. She has lots of local friends.
    Ask me no questions, and I'll tell you no lies
  • victory
    victory Posts: 16,188 Forumite
    stebiz wrote: »
    I would like her to stay at home but just like I bought her tickets for a fortnight in America I'm happy to let her spread her wings at Uni. Already I've paid for two weekends away for her - no anchors here.

    Her cousin is graduating this week. Stayed at home and has 10k in his bank account, which was saved whilst at home. He has no part time job either. He has told her his experiences and spent many a night at his mates digs. He was more than happy with the outcome.

    You did indeed let her go to USA but you fretted and worried yourself nearly grey:rotfl: you have valid points about the money but even if its not now for uni it will be one day your daughter leaves home, it is the way life goes around and yes I was bereft when eldest left but it has to happen, they have to grow, they will get a life without their parents, even if you are heart broken they still will, you can't keep them, they have to discover all the world has to offer:D
    misspiggy wrote: »
    I'm sure you're an angel in disguise Victory :)
  • stebiz
    stebiz Posts: 6,592 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    tbh Stebiz it's more than abundantly clear you've made up your mind what she should do and I get the impression that you won't be happy until she's 'decided' to stay at home.

    Not at all. She will make her own decision on this one - trust me. I can only point out the financial situation to her and hope that she sees it from that view. The way some see student debt on here is frightening.

    It will be deducted when working out her mortgage. It is going up 3.5% a year. A debt is a debt.
    Ask me no questions, and I'll tell you no lies
  • Person_one
    Person_one Posts: 28,884 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    stebiz wrote: »
    With 40k of debt. More like sink.:(

    Honestly, you need to stop focusing so much on the debt.

    It'll be £27,000 minimum just for the tuition fees, no point worrying about a bit on top that enables her to have a potentially life changing and personality forming three years.
  • balletshoes
    balletshoes Posts: 16,610 Forumite
    stebiz wrote: »
    It's not so much the debt but what she could do with the savings. As my wife doesn't work and it doesn't go on savings, we would (or should I say she would) get nearly £8k a year. That would equate to nearly 25k. This is without work. So she could get a nice sum together to pay towards a house herself if she so wished.

    Many people say that she may miss the student experience. Well if that means that she won't have sex, drugs and alcohol then so be it. I'm sure if she's so inclined she'd find that anyway without Uni. She has lots of local friends.

    but wouldn't she have a lot of outlay from that £8k a year? I would have thought she'd have commuting expenses, socialising to pay for, plus books/materials etc. Surely you don't expect her to be able to bank the majority of the maintenance she gets as a student, while being a student?
  • stebiz
    stebiz Posts: 6,592 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    victory wrote: »
    You did indeed let her go to USA but you fretted and worried yourself nearly grey:rotfl: you have valid points about the money but even if its not now for uni it will be one day your daughter leaves home, it is the way life goes around and yes I was bereft when eldest left but it has to happen, they have to grow, they will get a life without their parents, even if you are heart broken they still will, you can't keep them, they have to discover all the world has to offer:D

    I read your thread too victory. I've no doubt it does take time to adjust but to be honest I'd be happier if she said that she'd found a nice guy to move in with - when she's ready, and not just because she's hit the magical age of 18 she HAS to leave.
    Ask me no questions, and I'll tell you no lies
  • Person_one
    Person_one Posts: 28,884 Forumite
    Tenth Anniversary 10,000 Posts Combo Breaker
    stebiz wrote: »
    It's not so much the debt but what she could do with the savings. As my wife doesn't work and it doesn't go on savings, we would (or should I say she would) get nearly £8k a year. That would equate to nearly 25k. This is without work. So she could get a nice sum together to pay towards a house herself if she so wished.

    Many people say that she may miss the student experience. Well if that means that she won't have sex, drugs and alcohol then so be it. I'm sure if she's so inclined she'd find that anyway without Uni. She has lots of local friends.

    Oops, I think you've given yourself away a bit there with the bolded!

    You also have an incredibly narrow view of the 'student experience', your daughter needs to talk to some better informed and more open minded people before she makes her decision.

    Let her go to some open days on her own, don't even drive her there.
  • mountainofdebt
    mountainofdebt Posts: 7,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    stebiz wrote: »
    Not at all. She will make her own decision on this one - trust me. I can only point out the financial situation to her and hope that she sees it from that view. The way some see student debt on here is frightening.

    It will be deducted when working out her mortgage. It is going up 3.5% a year. A debt is a debt.

    keep telling yourself that if you want to but your posts on this thread and others, tbh, tell a different story
    2014 Target;
    To overpay CC by £1,000.
    Overpayment to date : £310

    2nd Purse Challenge:
    £15.88 saved to date
  • Wyre
    Wyre Posts: 463 Forumite
    Part of the Furniture
    Is that how much in grants and bursaries she would potentially get based on living at home as the rates vary? Are you planning on charging her for food/bills etc? Or are you going to take the hit to your wallet bearing in mind that there will be no tax credits or child benefit or any other benefits for her once she hits uni? What happens if she decides to waste it all and not save it? Afterall it is money for her and if she chooses to spend it all and not put it aside for a car/travel/house there is nothing you can do it about it.
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  • balletshoes
    balletshoes Posts: 16,610 Forumite
    stebiz wrote: »
    I read your thread too victory. I've no doubt it does take time to adjust but to be honest I'd be happier if she said that she'd found a nice guy to move in with - when she's ready, and not just because she's hit the magical age of 18 she HAS to leave.

    Don't you want her to have her own independence? Her own place, her own life, her own income, even just for a while, rather than going straight from your home to another bloke's home?
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