How much University allowance for son?

mutley74

Hi all, 
My son is going to University this September. He currently gets £120 per month pocket money, excluding clothes, school items. 
In September he is going away to University. He has not asked talked to me about fees or cash flow, despite my requests. He says he can afford to do it alone. I am a single parent, but have kept some money aside in a savings account for him. 
Being realistic I need to up his allowance, how much is reasonable to cover his accommodation and food etc?  Is £150 per week enough these days or more? 
I have been sent an email to be guarantee his tenancy for accommodation.  in the current Cv19 situation is this a good idea, as means we would be liable for £4000 fees even he could not attend or the University had to close early?
Any advice, feedback appreciated. 

Flugelhorn

if he says he can do it alone then let him apply for what funding there is - he may well discover he needs you income details for this so he will find he does need to discuss it with you (TBH if he has given your name as guarantor then he definitely needs to discuss it with you) - stand back for now and let him ask, he is probably trying to be independent for now

There are three main costs for uni:
1) Fees - these are covered by a non means tested loan and paid direct to the Uni
2) living expenses - how long is a piece of string - some people manage on much smaller amounts than others
3) accommodation (see 2 above)

The funding for 2 and 3 can be maintenance loan which may be topped up further by a means tested loan - can also get bursaries from some unis  - the rest is parental donations / work etc etc 

pinkshoes

Let him do it on his own.

Is he still expecting his allowance? I thought the loan system was supposed to be enough to pay accommodation and living expenses? 

I would stop the £120 a month and put it in a bank account, say £150 a month. At the end of the university course, gift the lump sum to him as a graduation present. For a 3 year course that would be over £5k!

warwicktate

Let him do it alone.

I have been to uni twice, both times self funded. Both times I had to get a part-time job. Uni is seen as a massive p1ss up (and yes, that's a good part of it), but its also about learning to become a fully functioning adult. And part of that responsibility is not just adult learning, but also coping with money (or sometimes lack of), time demands, socializing, etc etc.  It is unlikely that he'll have to sacrifice much to hold down a part time job. Most uni party nights are during the week, so a Friday/Saturday night bar job would suit. I had these, and actually had some great nights working behind the bar and having the craic with the drinkers.

Please don't feel like you 'have' to contribute. Every now and again pop £100 in his bank account if you feel you MUST, but no more. He'll cope, he'll have a great time, and hopefully start his employed life with a great start from a loving Mum, and a good education

74jax

My daughter graduated last year. She had the minimum maintenance loan which left her around 2k short on her accommodation for the year. She got a job at Clarkes to make up the difference and what was good was they let her transfer stores whenever she came home during holidays.
She couldn't have done it without the job.
She didn't qualify for anything more due to our household income, yet she never asked us for a penny.
Whenever we visited we always stocked her food cupboard etc. 
She never used her overdraft but we made sure she had a 0% one. And got her student rail card etc. 

silvercar

pinkshoes said:

Let him do it on his own.

Is he still expecting his allowance? I thought the loan system was supposed to be enough to pay accommodation and living expenses? 

I would stop the £120 a month and put it in a bank account, say £150 a month. At the end of the university course, gift the lump sum to him as a graduation present. For a 3 year course that would be over £5k!

Seriously? In some university towns the loan doesn't even cover the accommodation costs!

sheramber

mutley74 said:

Hi all, 
My son is going to University this September. He currently gets £120 per month pocket money, excluding clothes, school items. 
In September he is going away to University. He has not asked talked to me about fees or cash flow, despite my requests. He says he can afford to do it alone. I am a single parent, but have kept some money aside in a savings account for him. 
Being realistic I need to up his allowance, how much is reasonable to cover his accommodation and food etc?  Is £150 per week enough these days or more? 
I have been sent an email to be guarantee his tenancy for accommodation.  in the current Cv19 situation is this a good idea, as means we would be liable for £4000 fees even he could not attend or the University had to close early?
Any advice, feedback appreciated. 

Are you aware that if he is sharing a flat you are guaranteeing the whole rent cost not just his share.

esmy

silvercar said:

pinkshoes said:

Let him do it on his own.

Is he still expecting his allowance? I thought the loan system was supposed to be enough to pay accommodation and living expenses? 

I would stop the £120 a month and put it in a bank account, say £150 a month. At the end of the university course, gift the lump sum to him as a graduation present. For a 3 year course that would be over £5k!

Seriously? In some university towns the loan doesn't even cover the accommodation costs!

My DD had the maximum loan which just covered her accommodation (2nd cheapest in the city she was in), no food, travel, mobile phone bill, books and stationary etc. She worked alongside a full on course, just earned enough to cover her travel pass. She couldn't have completed the course without our financial help. 

zagfles

Has he applied for a means tested loan?  If so you will have been asked to provide your income. If your income is under £25k he will get the full loan, which for most students should be enough to cover living costs including accomodation, obviously depending on spending habits. It was enough for our kids.

If he doesn't get the full loan that's because there's an implied "parental contribution" - see Martin's article:

https://www.moneysavingexpert.com/students/student-loan-parental-contribution-tool/guide/

zagfles

esmy said:

silvercar said:

pinkshoes said:

Let him do it on his own.

Is he still expecting his allowance? I thought the loan system was supposed to be enough to pay accommodation and living expenses? 

I would stop the £120 a month and put it in a bank account, say £150 a month. At the end of the university course, gift the lump sum to him as a graduation present. For a 3 year course that would be over £5k!

Seriously? In some university towns the loan doesn't even cover the accommodation costs!

My DD had the maximum loan which just covered her accommodation (2nd cheapest in the city she was in), no food, travel, mobile phone bill, books and stationary etc. She worked alongside a full on course, just earned enough to cover her travel pass. She couldn't have completed the course without our financial help. 

Really? Where was that?

Max loan is £8944 (£11672 in London). Over typical 43 week rental contract that's £208pw !!

Flugelhorn

zagfles said:

esmy said:

silvercar said:

pinkshoes said:

Let him do it on his own.

Is he still expecting his allowance? I thought the loan system was supposed to be enough to pay accommodation and living expenses? 

I would stop the £120 a month and put it in a bank account, say £150 a month. At the end of the university course, gift the lump sum to him as a graduation present. For a 3 year course that would be over £5k!

Seriously? In some university towns the loan doesn't even cover the accommodation costs!

My DD had the maximum loan which just covered her accommodation (2nd cheapest in the city she was in), no food, travel, mobile phone bill, books and stationary etc. She worked alongside a full on course, just earned enough to cover her travel pass. She couldn't have completed the course without our financial help. 

Really? Where was that?

Max loan is £8944 (£11672 in London). Over typical 43 week rental contract that's £208pw !!

Max loan only available if household income low - there are plenty of places where first year accommodation is more than £200/ week 
maintenance loan for students with parents over threshold on means testing is £4168 / year - won't go far on accommodation / food / travel / clothes / books etc etc