Paying for children at university

silvercar

Jagraf wrote: »

I can see what you mean but you actually are making them financially equal by your argument. It's about choice - imo if one place is more expensive to live in that's life - if I were giving a house deposit to my kids I wouldnt give one if them £50,000 more because it was a more expensive place to live.

It depends where you draw the line, that you will fund them* equally until the end of their education or until the age of 18.

(*I know most earn in part-time or holiday jobs, but broadly speaking parents bridge the gap between student finance and basic needs.)

My logic is that if they were only children then you would fund to what you think is the appropriate level, so just because they are siblings there is no reason to compare parent funding. Obviously, once they are adults working, then funding needs to reduce.

onlyroz

Jagraf wrote: »

I can see what you mean but you actually are making them financially equal by your argument. It's about choice - imo if one place is more expensive to live in that's life - if I were giving a house deposit to my kids I wouldnt give one if them £50,000 more because it was a more expensive place to live.

My brother's rent in Grimsby was about £35 a week. Mine in London was around £80. I for one am glad that my parents didn't say to me "We only gave your brother £35 so that's all you're getting too".

And choice is only part of it - I couldn't have done my course in Grimsby, and my brother couldn't have done his course in London.

As for house deposits - that's different because you're a full adult by the time you're old enough to get a house, and so should be fully financially independent by then. Whereas students are still financially dependent on their parents due to the ridiculous means-tested loans system.

missbiggles1

onlyroz wrote: »

My brother's rent in Grimsby was about £35 a week. Mine in London was around £80. I for one am glad that my parents didn't say to me "We only gave your brother £35 so that's all you're getting too".

As for house deposits - that's different because you're a full adult by the time you're old enough to get a house, and so should be fully financially independent by then. Whereas students are still financially dependent on their parents due to the ridiculous means-tested loans system.

That's fair enough and I understand why you say that. However, I do think that depends on whether you had a good reason for choosing to study in an expensive area and ignores the fact that you would've found it far easier to pick up decently paid part time work in London than your brother would in Grimsby.

silvercar

missbiggles1 wrote: »

That's fair enough and I understand why you say that. However, I do think that depends on whether you had a good reason for choosing to study in an expensive area and ignores the fact that you would've found it far easier to pick up decently paid part time work in London than your brother would in Grimsby.

It is never that simple. The opportunities are likely to be far greater in London eg work experience. So the potential is greater.

missbiggles1

silvercar wrote: »

It is never that simple. The opportunities are likely to be far greater in London eg work experience. So the potential is greater.

I thought that was what I said?

onlyroz

missbiggles1 wrote: »

That's fair enough and I understand why you say that. However, I do think that depends on whether you had a good reason for choosing to study in an expensive area and ignores the fact that you would've found it far easier to pick up decently paid part time work in London than your brother would in Grimsby.

My brother and I have very different needs and skill sets, and made the appropriate choice based on that.

I sincerely hope that most would-be students don't pick a university for financial reasons, but instead go for one that offers the best opportunities for them.

tea_lover

I went to university 4 years after my sister, but she was in a (marginally at the time) more expensive part of the country. My parents helped with accommodation for both of us, and other living expenses.

It's nearly 20yrs since I went and this is the first time it's ever occurred to me to even wonder whether we got similar amounts :rotfl:.

Jagraf

tea_lover wrote: »

I went to university 4 years after my sister, but she was in a (marginally at the time) more expensive part of the country. My parents helped with accommodation for both of us, and other living expenses.

It's nearly 20yrs since I went and this is the first time it's ever occurred to me to even wonder whether we got similar amounts :rotfl:.

You should ask

Vikipollard

Third child went to Bedfordshire, so 'southern' prices (a shock for us northerners). Survived on student loan +£200/month from us +wages from a part time job he got in his first year. Left Uni with a good degree, sound money management skills, £3k in savings and no credit card or overdraft debt. So with my basic maths, he used c.£4.2k of the money from us plus all his loan/wages over the three years.

He moved to Oxford (THAT's an expensive place to live lol) straight after graduation into his first full time job, but manages his money well.

Fourth child went to Chester, fortunately starting the September after third child graduated. She also got £200/month, but did not seek a part time job. Ultimately she dropped out at the end of year 1, but not because of financial distress.

We agreed in 2010 when third child went that whatever we gave one we would give any of the others that went simply so that there was never any 'favouritism' claims.

(We would have been screwed if all four had gone, however, as first and second were same year, and third the year after!!)

Armchair23

Your money, your kids, your choice.

There isn't a right or wrong answer just the one you make.