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Paying for children at university
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My brother & I went to Newcastle and Bristol respectively. We were limited on where we could apply due to course availability - especially in my case. We also each only had 2 offers & coincidentally both declined London! Our parents covered accommodation for us, we covered the rest for the first 2 years. In later years of our 5yr courses they were full time with a lot of holiday time placements etc, part time or holiday work was tricky so we were very lucky to get a small allowance each too.0
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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 both benefited equally - whether that cost the same amount of money isn't important.
It isn't always necessary to give each child exactly the same amount of money.0 -
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.
That's why I said "good reasons" rather than just fancying living in an expensive area.
Most students (unless they have wealthy parents) do have to take the financial aspects of university life into account and, let's face it, academically it won't make a great deal of difference whether you do your English degree in Manchester or London but it will make a great deal of difference to the finances.
However, I do agree that the financial side shouldn't be the main reason for choosing a university, which is why my heart sinks when people choose to go to the local university because they can live cheaply at home.0 -
I wouldn't give either anything.. if they cannot afford to be there or manage their money adequately then they could stay home and go to the local university or they get a job to subsidise their studies.. I wouldn't see them on the streets, hungry or naked but there is no way I would give cash for a social life.
My daughter is at uni.. and I pay nothing, give her nothing.. she has a roof over her head, bills paid, house warm and tummy fed.. what more does anyone need?LB moment 10/06 Debt Free date 6/6/14Hope to be debt free until the day I dieMortgage-free Wannabee (05/08/30)6/6/14 £72,454.65 (5.65% int.)08/12/2023 £33602.00 (4.81% int.)0 -
Most students (unless they have wealthy parents) do have to take the financial aspects of university life into account and, let's face it, academically it won't make a great deal of difference whether you do your English degree in Manchester or London but it will make a great deal of difference to the finances.
Nothing against Manchester (and both mine went to uni there) but the opportunities to broaden your experience must be greater in London. Theatres, talks etc are in far more abundance in London. Say you wanted to use your English degree for a career in journalism, the choice of publications to gain work experience is far greater in London.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I wouldn't give either anything.. if they cannot afford to be there or manage their money adequately then they could stay home and go to the local university or they get a job to subsidise their studies.. I wouldn't see them on the streets, hungry or naked but there is no way I would give cash for a social life.
My daughter is at uni.. and I pay nothing, give her nothing.. she has a roof over her head, bills paid, house warm and tummy fed.. what more does anyone need?
Most students find that the student finance is not sufficient. If there are opportunities for part time work and the course allows enough time to take up those opportunities then it is possible to manage without parental support, for a lot of students that isn't the case.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
I wouldn't give either anything.. if they cannot afford to be there or manage their money adequately then they could stay home and go to the local university or they get a job to subsidise their studies.. I wouldn't see them on the streets, hungry or naked but there is no way I would give cash for a social life.
My daughter is at uni.. and I pay nothing, give her nothing.. she has a roof over her head, bills paid, house warm and tummy fed.. what more does anyone need?
The point is that the amount of loan is based on household income, so it is calculated on the premise that parents will help out.
Surely, anyone should choose the location of their course based on the course content and facilities, not primarily area based on cost?
I wouldn't want my children to have chosen their degree location based solely on cost as that would be short sighted and very possibly counter productive in the job stakes if they went to a University which is not well regarded.0 -
Most students find that the student finance is not sufficient. If there are opportunities for part time work and the course allows enough time to take up those opportunities then it is possible to manage without parental support, for a lot of students that isn't the case.
if they cannot afford to be there then they don't go. It isn't compulsory, hence the cost.Andypandyboy wrote: »The point is that the amount of loan is based on household income, so it is calculated on the premise that parents will help out.
Surely, anyone should choose the location of their course based on the course content and facilities, not primarily area based on cost?
I wouldn't want my children to have chosen their degree location based solely on cost as that would be short sighted and very possibly counter productive in the job stakes if they went to a University which is not well regarded.
No, they should take into account the cost of living based on the money they would likely have available.. if they cannot manage the expensive living expenses they go somewhere they can afford, or don't go at all.
I'm the parent not the bank.. I'm not going to be bailing them out throughout life so they get used to budgeting pretty quick... I don't have enough money to feed the children at home I sure as heck wouldn't fund one that had moved out so they could drink and do whatever other aspects of student life in which they chose to indulge.. they soon learn there isn't a money tree.LB moment 10/06 Debt Free date 6/6/14Hope to be debt free until the day I dieMortgage-free Wannabee (05/08/30)6/6/14 £72,454.65 (5.65% int.)08/12/2023 £33602.00 (4.81% int.)0 -
I'm the parent not the bank.. I'm not going to be bailing them out throughout life so they get used to budgeting pretty quick... I don't have enough money to feed the children at home I sure as heck wouldn't fund one that had moved out so they could drink and do whatever other aspects of student life in which they chose to indulge.. they soon learn there isn't a money tree.0
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Then you are disadvantaging your children within the system that is in place, which isn't their fault. The whole premise of the student loan system is based on parental contribution according to household income, I abhor it, but that is the way it is.
I think that if it has to be on parental income it should be just that, not based on the household where the young adult lives but on the income of both parents regardless of where they reside.0
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