University

skint_chick

I wouldn't get too stressed out about it at the moment - £120 a year for the next 10 years or so plus interest should be plenty to cover the initial costs of basics for moving out like kitchen equipment, a decent laptop, and some books. The one thing I would encourage you to do is if they are interested in university when they're considering GCSEs/A Levels is to keep their options open as much as possible. European universities are generally much cheaper - even when we leave the EU! There's more courses taught in English now too. There's also the option of working and studying part-time around a job, college courses from 16-19 for free and lots of other ways.

The best thing you can do is encourage them to explore everything, do what they love, and support whatever they decide to do. If you can afford to put away a few pounds a month for them then that's great, if not then focus on spending quality family time with them. As they get older teaching them about budgeting is a useful life skill so if they do go to uni they have the skills to manage their money and independence.

FBaby

Nine years ago, when my kids were the same age than yours, I would have affirm to anyone asking that my kids would be going to Uni. It's now a very possibility that they won't, especially my son, not because they can't cope with it, but because they are other excellent opportunities which I think would suit my son much better than expensive uni life.

ManofLeisure_2

pollyanna24 wrote: »

I want my children to go university.

That might be the case, but they may have other plans

ska_lover

FBaby wrote: »

they are other excellent opportunities which I think would suit my son much better than expensive uni life.

Great point

lisa110rry

Sponsorship...the way forward.

When our son was in his last year of school we composed a list of companies for him to apply to work for, for a small salary, during the summer hols in consideration of the company paying his tuition and books (we paid his living expenses and accommodation, so we didn't include those costs).

He wrote to the companies with his (admittedly short) CV and a proposal and was sponsored through uni, after which he continued to work full time for the sponsor for almost three years (he had contracted for three years, but got an offer form another company her couldn't refuse).

This is the way forward.

missbiggles1

lisa110rry wrote: »

Sponsorship...the way forward.

When our son was in his last year of school we composed a list of companies for him to apply to work for, for a small salary, during the summer hols in consideration of the company paying his tuition and books (we paid his living expenses and accommodation, so we didn't include those costs).

He wrote to the companies with his (admittedly short) CV and a proposal and was sponsored through uni, after which he continued to work full time for the sponsor for almost three years (he had contracted for three years, but got an offer form another company her couldn't refuse).

This is the way forward.

Unfortunately, 40% of the age group aren't going to be able to obtain sponsorship.

pollyanna24

Thanks for everyone's replies.

I think I did jump the gun a bit when I posted. I think my point was more that if they want to go to university, but I can't afford to send them (or indeed any other sponsorship / apprenticeship), would they be able to go?

I've gotten to the stage in my life where things didn't go as expected. I was left a single mum 5 years ago and have fought so hard to keep my house. However, I might have the house, but I have no money each month and have just enough money to pay the mortgages and bills.

I've gotten to the age where I would like to study and I simply can't afford for me to do it (I would love to do accountancy courses), but I appreciate that things might change and the early years of a mortgage are the hardest.

I want my girls to have the choice to go to uni or the other options rather than running out and getting any job at 16 or 18.

My point was that I can provide free accommodation (hopefully) so they can concentrate on getting the best education or career. I want them to be able to focus on that rather than being able to afford to survive. I'm not sure if I'll be in a position to give / do any more than just say they can live at mine for free. Heck, I don't even know if I'll be able to say that much!

So I suppose I was just wondering if you do come from a "poorer" background, can you still aspire to study if you don't have to worry about expenses as such to pay for, but can't afford fees?

meer53

pollyanna24 wrote: »

Thanks for everyone's replies.

I think I did jump the gun a bit when I posted. I think my point was more that if they want to go to university, but I can't afford to send them (or indeed any other sponsorship / apprenticeship), would they be able to go?

I've gotten to the stage in my life where things didn't go as expected. I was left a single mum 5 years ago and have fought so hard to keep my house. However, I might have the house, but I have no money each month and have just enough money to pay the mortgages and bills.

I've gotten to the age where I would like to study and I simply can't afford for me to do it (I would love to do accountancy courses), but I appreciate that things might change and the early years of a mortgage are the hardest.

I want my girls to have the choice to go to uni or the other options rather than running out and getting any job at 16 or 18.

My point was that I can provide free accommodation (hopefully) so they can concentrate on getting the best education or career. I want them to be able to focus on that rather than being able to afford to survive. I'm not sure if I'll be in a position to give / do any more than just say they can live at mine for free. Heck, I don't even know if I'll be able to say that much!

So I suppose I was just wondering if you do come from a "poorer" background, can you still aspire to study if you don't have to worry about expenses as such to pay for, but can't afford fees?

I'd wait until your girls are much older, just support them for now. Once they hit their teenage years, who knows what they'll want to do ! I'm a single Mum with a teenage daughter, i've been on my own with my kids (son now aged 29) since my daughter was 2. Thinking about whether i could afford Uni never crossed my mind, my son went to Grammar School followed by Uni. He dropped out twice and is now a manager in a bank, Uni just wasn't for him but he still has close to £11000 student loan left to pay back.

Its way too early to be thinking about Uni, enjoy yourselves now, scrimping and saving whilst they're young might help, it might not. If your girls want to get a job when they leave school, it's nothing to be ashamed of, in my experience, girls are more interested in spending money than boys ! My daughter has a part time job in addition to studying at college, i can't afford her make up habit !

enthusiasticsaver

As others have said student tuition rules may well have changed by the time your girls are old enough for university. At the present time though the parents financial situation should not prevent the children go to university should they wish as they will be assessed for student loans and if low household income then parents would not normally have to contribute.

Saving for them if you are able is a good idea anyway. We stick £10 per month in our granddaughters junior isa (she is only 1).

I wonder if it is because you live in London that money is such a struggle? That plus of course it is just you. We moved out of London 28 years ago due to the extortionate cost of housing and fed up of sitting in traffic or coping with trains up to town. Best thing we ever did.

LeagueOfWolf

Hi pollyanna24!
I don't know about 10 years from now or if this any help but I graduated a couple of years ago. Here's my own experiences I hope it can be some help?

I am from London too my mum is a single parent and wasn't able to contribute to my further study at university. My dad has never paid any child support my entire life either.

I had to move out for uni as it was too far and managed to survive.
As I moved away my student loans didn't cover all of my expenses (covered 70% of rent and 0% living costs But It ALWAYS covers 100% tuition fees) so I got a job in a bar to pay my way through 3 years.
If yours will be living at home for I think it should be completely fine. Most of the people in my class took out the tuition loan despite their background.
They'll be able to get a student loan to cover tuition & a little for maintenance. Everyone is able to get the tuition loan and maintenance loan so it shouldn't matter if you earn over the amount needed for benefits - which btw they have completely scrapped ! So no one gets the maintenance grant now which is abysmal!!!!!

You start to pay back the loan in your second year after graduating if you earn over around £18,000 (in the future it will probably be a lot more but ratio to the current economy).
My repayments automatically get taken out my wage every month around £75 so it's not too much of a burden. Some people spend that on a weekly food shop!
So essentially every year I'm repaying back £900 and the interest is about £1200 so I'm not paying back anything...they're adding £300 on every year ..after 25 years of 'paying back' the loan they let you off.

University bursary is usually around £900 a year or less as you said you're just under to get benefits. Most people in my class got it even though both parents worked but they got varying amounts.