Can I save for my children's futures without it affecting my housing benefit?

keaton

My eldest is 12.

emmsie123

I really wouldn't worry about it. My dd started uni in sept and got the full whack of fees and grants.
I'm just paying her £25 a week for food till she gets a job.
Plus i paid her accommodation deposit of £300.
She worked part time till she went and bought all the stuff she needed with that.
Her debts will automatically come out of her wage packet. When she starts nursing.

missbiggles1

keaton wrote: »

I take it you are assuming I'm on all sorts of benefits, I'm not, neither is my partner. We get a small amount of housing benefit each week, because even though we work, it is not enough.

Neither of us drink or smoke, maybe the wages we earn should be spent on that instead?

Please forgive me for trying to give my children less debt in there adult life by putting away £5 or so a week. Less than most people spend on cigs and alcohol.

I have reasons why I want too look after my children's future, reasons I will not go into on here, but feel free to judge.

If your eldest is 12 and you put £5pw away until s/he's 18, that'll be less than £2k, multiplied by £2 is £4k, so well below the level where it will affect your benefits, whether it's in their names or your own.

BigAunty

There are many european countries that offer english language based degrees at Uni with much lower tuition fees. For example, the Netherlands have Unis that have a 2,000 euro tuition fees and young students can get housing benefit.

Your children can also avoid the expense of tuition fees by moving to Scotland, working there a few years to qualify as Scottish by residence (which also allows them to save up towards their future student expenses) and then not have to pay a penny in tuition fees.

They can also learn and earn at the same time on the Open Uni.

Some teaching courses and opening vacancies in shortage subjects attract extra bursaries.

So there are ways of minimising fees and maximising income, plus there are many undergrads who would not expect their parents to pay towards their tuition fee as they will have the attitude that they are investing in their careers (rather than sleep walking into debt and despair).

Will your children, knowing that you rely on tax credits, housing benefit, perhaps council tax reduction, child benefit, really be expecting you to pay towards their Uni expenses?

tazwhoever

Just a thought - Junior ISA. No access for parents and children until they are 18.

keaton

BigAunty wrote: »

There are many european countries that offer english language based degrees at Uni with much lower tuition fees. For example, the Netherlands have Unis that have a 2,000 euro tuition fees and young students can get housing benefit.

Your children can also avoid the expense of tuition fees by moving to Scotland, working there a few years to qualify as Scottish by residence (which also allows them to save up towards their future student expenses) and then not have to pay a penny in tuition fees.

They can also learn and earn at the same time on the Open Uni.

Some teaching courses and opening vacancies in shortage subjects attract extra bursaries.

So there are ways of minimising fees and maximising income, plus there are many undergrads who would not expect their parents to pay towards their tuition fee as they will have the attitude that they are investing in their careers (rather than sleep walking into debt and despair).

Will your children, knowing that you rely on tax credits, housing benefit, perhaps council tax reduction, child benefit, really be expecting you to pay towards their Uni expenses?

Thank-you, but we are very close as a family and I know they'd not want to move away, (my daughter gets homesick just visiting her cousin for a few days)

They don't expect me to save for them, they are very considerate caring children, but its something I'd like to do.

keaton

tazwhoever wrote: »

Just a thought - Junior ISA. No access for parents and children until they are 18.

That was exactly my thought too, I could save towards their university fees, or first car. But don't know if it would affect me, even though I have no access to it.

BigAunty

keaton wrote: »

Thank-you, but we are very close as a family and I know they'd not want to move away, (my daughter gets homesick just visiting her cousin for a few days)

.

Yeah, I got home sick as a child and belonged to a close family. Then when I was older and went to Uni, I applied to Unis that were 400 to 500 miles away.

I was the first generation to attend Uni and while tuition fees were not yet introduced, I paid my way through with a mixture of grants, savings, part time work and student loans. My parents didn't support me (bar buying a few books).

When I got a job, I paid back my debts to student loans without issue.

SnooksNJ

keaton wrote: »

I take it you are assuming I'm on all sorts of benefits, I'm not, neither is my partner. We get a small amount of housing benefit each week, because even though we work, it is not enough.

Neither of us drink or smoke, maybe the wages we earn should be spent on that instead?

Please forgive me for trying to give my children less debt in there adult life by putting away £5 or so a week. Less than most people spend on cigs and alcohol.

I have reasons why I want too look after my children's future, reasons I will not go into on here, but feel free to judge.

I had a student loan that I paid back so yes I do feel I can judge in your belief that I should subsidized your children's education.

keaton

SnooksNJ wrote: »

I had a student loan that I paid back so yes I do feel I can judge in your belief that I should subsidized your children's education.

Maybe I should become a alcoholic and spend the entrity of my child benefit on drink, would you prefer that? Or would you prefer as a caring parent I look out for my children and give them what I hope us a better future.

With respect you don't know the reasons for me wanting to do this, so judge all you like. You just sound bitter.