MSE News: Student loans are not big enough

GeneHunt_2

Originally Posted by emmilou
The cost of accommodation does need to be looked at - my daughter gets the minimum amount of maintenance loan (£3.5k p.a) as me and OH both work full time, her accommodation is £99 a week (just over £4k a year) and so we have a £500 shortfall a year.
Therefore we have to make up that difference and give her money for food, she has a weekend job which will cover her other purchases e.g clothes, toiletries, alcohol etc..

And this is wrong why? Why do you expect other people to pay for your kids to go to Uni?

Originally Posted by emmilou
It seems at 18 you are considered an independent adult and yet still penalised by having married parents who work, IMO maintenance loans shouldn't really be means tested

You'd rather everyone else coughed or for your kids to go to uni? Why should I pay for your kids clothes, books, booze, travel, etc???

GeneHunt_2

Dunroamin wrote: »

Everything I've read says that the most expensive, en suite halls of residence are those which are filled first. Either today's students think that they deserve this level of accommodation or they have no idea what money they're going to need for everything else.

They don't. We have offered to pay for en suite for both of our kids and both of them have turned us down.

The cost of accommodation really does vary by city. Our daughter has a lovelyroom in a lovely house for the same price as my friend's daughter pays in Brighton for a damp dump.

GeneHunt_2

RosieJD wrote: »

I totally agree with emmilou, we have similar situation, my daughter is at Liverpool studying vet medicine. My husband and I both work and pay our taxes via PAYE. We still have a mortgage and another dependant. Her contact time is 38 hours and holidays have to be worked in. Her accommodation is nearly £1500 more than her loan therefore I am having to pay the difference plus living costs. We do not have wealthy grandparents to help as some of our friends OR a friendly accountant who can manipulate the finances. (One friend has full grant and full loan due to accountancy shenanigans)
My husband and I have only one solution which is to separate and after 30 years together this wasn't the plan, but the financial pressure may prove too much unless he maintenance loan is brought up to the same level.

Really? Seriously? Was that his suggestion?

GeneHunt_2

Prothet_of_Doom wrote: »

One university stood out in that they had a Social Society for students who choose to live at home, of which they reckoned a 1/3 of students did. That's Birmingham.

One stood out in the open days as creaming the students, BATH, but all have a range of prices.

Wouldn't you expect there to be a vast difference in rents between Birmingham and Bath? Shouldn't this be a consideration when picking a Uni?

mucgoo

The article chose silly example rents. Premium single rooms and 52 week contracts. Halls all run on ~40 week contracts and the basic single rooms are half the prices of those premium options.

There is a problem if your parents are earning above £50k and then choose not to help you. You absolutely have to get a job in that case. No other options.

The system also means there's a 55% marginal tax rate between £25k and £70k if you have two children at uni and a single earning parent.

GwylimT

Our son receives the maximum maintenance loan as we are lower earners, it still doesn't come near to paying his costs. He is studying medicine and so unlike many students he doesn't get a long summer break, he gets two weeks where he usually works night shifts in a factory while studying. He does receive £500 a year bursary from his university which we are incredibly thankful for.

His halls in first year were the cheapest option, private housing wasn't cheaper, yes, the rent was lower but they did not include bills. His rent is £115 a week for 50 weeks of the year, this is for a room in non-catered flats, that works out at £5750 a year, now he is in his second year they remain the cheapest option. His maintenance loan is £4,950 a year, his entire loan and his yearly bursary do not cover his rent, never mind food.

We are low earners, my wife is also physically disabled and her disability is rather costly as her entire wage pays for her physiotherapy as it isn't something the NHS can supply. We really struggle to help him pay the rest of his rent, he is lucky that we can do this, he is also lucky that the hospital where he is doing his placement supplies a free meal, meaning he doesn't have to pay for his daily main meal 5 days a week.

Dunroamin

GwylimT wrote: »

Our son receives the maximum maintenance loan as we are lower earners, it still doesn't come near to paying his costs. He is studying medicine and so unlike many students he doesn't get a long summer break, he gets two weeks where he usually works night shifts in a factory while studying. He does receive £500 a year bursary from his university which we are incredibly thankful for.

His halls in first year were the cheapest option, private housing wasn't cheaper, yes, the rent was lower but they did not include bills. His rent is £115 a week for 50 weeks of the year, this is for a room in non-catered flats, that works out at £5750 a year, now he is in his second year they remain the cheapest option. His maintenance loan is £4,950 a year, his entire loan and his yearly bursary do not cover his rent, never mind food.

We are low earners, my wife is also physically disabled and her disability is rather costly as her entire wage pays for her physiotherapy as it isn't something the NHS can supply. We really struggle to help him pay the rest of his rent, he is lucky that we can do this, he is also lucky that the hospital where he is doing his placement supplies a free meal, meaning he doesn't have to pay for his daily main meal 5 days a week.

If you are a low income family, why doesn't he get the maintenance grant?

GwylimT

Dunroamin wrote: »

If you are a low income family, why doesn't he get the maintenance grant?

He is studying medicine therefore he receives an NHS bursary and so he isn't entitled to the maintenance grant, this bursary gives him a reduced maintenance loan, but it levels out at the highest loan and so he gets what he would if he wasn't on an NHS funded course. So if he wasn't studying medicine he would get quite a bit more in support.

Dunroamin

GwylimT wrote: »

He is studying medicine therefore he receives an NHS bursary and so he isn't entitled to the maintenance grant, this bursary gives him a reduced maintenance loan, but it levels out at the highest loan and so he gets what he would if he wasn't on an NHS funded course. So if he wasn't studying medicine he would get quite a bit more in support.

Sorry, I must have had my brain switched off when I asked this.:o

mucgoo

GwylimT wrote: »

He is studying medicine therefore he receives an NHS bursary and so he isn't entitled to the maintenance grant, this bursary gives him a reduced maintenance loan, but it levels out at the highest loan and so he gets what he would if he wasn't on an NHS funded course. So if he wasn't studying medicine he would get quite a bit more in support.

That's insane.

Appeal to student finance saying how that state of affairs is a disincentive to poorer student studying a subject such as medicine? Hell, even try and get moneysaving to make a media fuss on your behalf. Its a barrier to people from poorer backgrounds achieving which always plays well.