University

Spendless

We have accounts for both children into which a small monthly sum is saved. It always was for the end of yr11 education and beyond. Earlier this year when DS was 16 we used some of it towards a new computer he wanted, as his sixth form option was to do a computer college course. At the time I was out of work otherwise it might have been funded solely from wages, but it wasn't feasible at the time.

If he wishes to go to Uni next, there is money left and still contributed to for the next stage of his life, whatever that may be him doing.

DD at 13 has her heart set on trying for drama school (a difficult choice that she's aware of!). A charge is made to audition. Quite possibly some of her money may go towards this stage at 18, but again it would depend on the household income situation at the time.

74jax

I saved 50 a month and increased it to 100 when I was able.

My DD just started uni and yes she gets 9k a year to pay for the course but she also gets the minimum loan of around 3.5K to pay for accommodation. The maximum I think is 8k. It depends on your household income.

Her halls are 5.3k for the year so the loan doesn't cover it if she didn't have her savings she couldn't do it.

I know some parents who pay the difference, but I gave her the savings and it was her choice, uni or keep the savings.

Person_one

Caroline_a wrote: »

What about what they want? Or will want? University seems to be held up these days as the B all and End all - and it isnt. If you have an academic child who needs a degree for his or her career, such as a vet, solicitor, etc then well and good. However, going to university because you think it would be good to them isn't a great idea. They will be adults by then, and should be making up their own minds about their careers.

As an example, 2 out of 3 of mine have degrees, and have done quite well. The youngest will be paying off her loan forever I think. The older one was sponsored by her company so nothing to pay. The middle one who didn't go has just landed a global directorship in another country. Her salary is eye watering. I'm very proud of all of my girls, but it just proves that you don't need a degree to be successful if you are prepared to work.

Higher education isn't just about getting a job and making money though, we're in real danger of losing sight of the importance of education for its own sake in this country!

I agree that they shouldn't feel pressured if they don't want to go, but if they want to go even though they don't have a clear graduate career plan, they should still be supported.

ska_lover

Things will have changed many times by the time this becomes an issue, that any talk on here is merely speculation based on how it is now, not in a decade.

OP you are over worrying big time

Caroline_a

Person_one wrote: »

Higher education isn't just about getting a job and making money though, we're in real danger of losing sight of the importance of education for its own sake in this country!

I agree that they shouldn't feel pressured if they don't want to go, but if they want to go even though they don't have a clear graduate career plan, they should still be supported.

I agree - sadly there are very few youngsters now who have the luxury of being able to study for knowledge's sake. Most people cannot afford to do this with the ever-present pressure of getting a job. I think that this type of learning is sadly now done by people who have established a career, their families have grown up, and they have the money to be able to indulge themselves.

Person_one

Caroline_a wrote: »

I agree - sadly there are very few youngsters now who have the luxury of being able to study for knowledge's sake. Most people cannot afford to do this with the ever-present pressure of getting a job. I think that this type of learning is sadly now done by people who have established a career, their families have grown up, and they have the money to be able to indulge themselves.

Sadly that does seem to be the way things are heading, but it is vitally important that enough young people from all backgrounds still go to university to study the subjects that don't necessarily lead straight into guaranteed jobs.

Its a real shame our government doesn't understand this though, and I completely understand why they many are reluctant when education that is crucial to the functioning and furthering of our society comes with mortgage levels of debt for the individual themselves.

barbarawright

Gloomendoom wrote: »

Most UK universities are not really within a sensible commuting distance of London.

There are plenty of universities in London and the home counties.

DigForVictory

Do, please, try to save a bit for them. The Direct Debit that dumps a few ha'pennies into each childs account was a kicker at first, but has got a little easier, not least as I now have three savings accounts to lean on when the going gets tough & when the funds are better, I repay the lot at an interest rate that I've tried to avoid.

The sooner you start, the more there will be to lean on in tough times & to grow otherwise. Also credit unions do passable interest rates both on savings & on emergency loans.

Short term, can you afford to give them "pocket money"? One of the best teaching mechanisms for the benefits of saving, not always affordable.

Are you teaching them to cook, are they involved in shopping, have you done a Downshift Challenge with them?

Even if you can't get much help funding them through University this year, you can equip them with skills that'll be of use when they have children!

All the best!

Gloomendoom

DigForVictory wrote: »

Even if you can't get much help funding them through University this year,

Funding might be the least of the OP's worries... they are six and eight years old!

Primrose

Before you start thinking about real university, perhaps now is a good time to start start thinking about "university of childhood", I.e. all the things your children be doing now to give them the skills and confidence to consider university as an extension of their childhood learning. I'm thinking of growth things like joining cubs, brownies, guides, scouts and other character and skill based challenges like Duke of Edinburgh's award, etc.

As others have said, the world will be a very different place by the time your children are of university age. Technology will have impacted on and changed virtually every. profession in ways we probably cannot imagine so trainng needs may change too, and governments will probably also have changed the way universities are run and the way students pay for their learning. Put aside i to a secret fund whenever you can afford and however much he moans, try and persuade your ex to think about your children' future needs too.