Teen wanting to go to uni

Morrigan_2020

74jax said:

For my DD, Her 9k loan covered the course and she got minimum student loan of around £3.5k, her rent was £6k and she kept her job on that she had at 16.she worked for Clarkes so could swap between branches when he came home for holidays so never stopped working. She took as !!!!!! shifts as she could over summer (prime back to school shoes time).
I sent her £15 a week, so I knew she had something for food - I doubt it ever went on food! 

If your daughter got the minimum loan then your household income would have been high enough to essentially ‘make up the difference’.  I think that’s the general idea? 

burlingtonfl6

What does she want to study?

gwynlas

As many have already commented now is probably not the best time to go to university but in terms of being used to study pt os probably easier than taking time out. Much depends on what she wants to study and how she can best help herself, ie getting a job in a related field. Do not think of finance getting in the way there are loans avaiable as well as bursaries for some subjects. She can definety get a part time job to pat her way.

Guineapigsqueaks

Read all the info on this site on student finance. It was really helpful to me. Tuition fees will be covered in full by loan. With living costs, there is an expectation of parental contribution in that the loan won't be enough to cover everything, even if you qualify for the maximum loan.  Or, the student will need to top up by earning.  Easier for some courses than others.  Current covid situation must have made it difficult for some students to earn money they need, although hopefully we are coming out of that, slowly.  There are some extra bursaries available for students in hardship or from low income families.  We saved for several years to be in a position to help our son go, used lots of money saving tips on this site to help (thank you Martin).  It costs us about £6k a year, we basically cover his rent. Currently saving every penny so we can do the same for our daughter.  But there are rules: careful thought as to the degree they choose and what they might do with it, working hard to get best degree they can (as well as making the most of the whole experience), and no overdrafts or debts at the end (other than student loan, which is more a commitment to a graduate tax than a traditional debt).  If I hadn't managed to save, I suppose a cheaper option would have been for them to attend a University within commuting distance and to live at home, but I'm not sure I would survive that!  You miss them when they go, but adapt surprisingly quickly :-).
Guineapigsqueaks x

74jax

Morrigan_2020 said:

74jax said:

For my DD, Her 9k loan covered the course and she got minimum student loan of around £3.5k, her rent was £6k and she kept her job on that she had at 16.she worked for Clarkes so could swap between branches when he came home for holidays so never stopped working. She took as !!!!!! shifts as she could over summer (prime back to school shoes time).
I sent her £15 a week, so I knew she had something for food - I doubt it ever went on food! 

If your daughter got the minimum loan then your household income would have been high enough to essentially ‘make up the difference’.  I think that’s the general idea? 

Yes I think so. But even if she could have had more loans, she wouldn't have needed the full loan (if that makes sence) as her work etc allowed her ample money - she says she had more money then than now.... 🙈
So it's less to pay back I guess. 
It's a very tricky situation but I definately think I'd be putting my DD off for a 2021 intake... Not that she'd listen... 

Savvy_Sue

Savvy_Sue said:

Make sure she and you look at Martin's articles on student loans on the main site.

And they are here (now I'm not on my phone any more ...) https://www.moneysavingexpert.com/students/

Morrigan_2020

74jax said:

Morrigan_2020 said:

74jax said:

For my DD, Her 9k loan covered the course and she got minimum student loan of around £3.5k, her rent was £6k and she kept her job on that she had at 16.she worked for Clarkes so could swap between branches when he came home for holidays so never stopped working. She took as !!!!!! shifts as she could over summer (prime back to school shoes time).
I sent her £15 a week, so I knew she had something for food - I doubt it ever went on food! 

If your daughter got the minimum loan then your household income would have been high enough to essentially ‘make up the difference’.  I think that’s the general idea? 

Yes I think so. But even if she could have had more loans, she wouldn't have needed the full loan (if that makes sence) as her work etc allowed her ample money - she says she had more money then than now.... 🙈
So it's less to pay back I guess. 
It's a very tricky situation but I definately think I'd be putting my DD off for a 2021 intake... Not that she'd listen... 

Her work also meant she had to study in the middle of the night though.  She wouldn't have had to pay you back as her parents, hopefully!

Spendless

Assuming you are in England (if not look up rules on Student finance where you live) your child can have a maintenance loan. How much is dependant on what the household income is where the student lives ie. parents/step-parents income, so in this case your and her Dad's income. There's articles on this site about it but you can also use this Government calculator. Just put in as though she was an Autunm 2020 starter. Each year increases slightly but it will give you an idea. https://www.gov.uk/student-finance-calculator

Then have a look at accommodation costs at some of the places she's interested in looking at. Once you know how much she can borrow versus how much her rent is likely to be then you'll be able to have a better idea of how much more she'll need to survive on.
I know several people  where their child is only entitled to the minimum loan or slightly above and parents not in the position to help out financially, usually due to large outgoings such as mortgage, or repaying debt. The variety of things they've done is had child go to a local uni and commute from home (not always ideal or feasible), Child has taken a year out worked and saved, Child has used their loan to pay the rent (again this will be depend on size of maintenance loan versus rent cost) and then found p-time work that gives them the money to live on. 


My Nephew delayed going to Uni for a year due to not getting on his first choice course, worked and saved. Went September last year into halls and it's just not been the experience he anticipated. Stuck in his halls room a lot of the time. Given he's studying somewhere commutable and partly on-line  I think it;s been a total waste of the £7K his rent is costing, but I can understand he wanted to go. That is certainly something I'd look out for though. Once signed up to a rental agreement you are often bound to it for the year, regardless of whether you live there.

 My own son this is his 3rd year at Uni (still yr2 of degree due to having to do an additional year at the beginning). I lost count of the amount of times I looked last summer for guidance on returning Uni students due to covid-19 and found precisely nothing! If they'd said all learning would be online for example I would have opened up the conversation with my son about what he wanted to do BEFORE signing to a rental agreement. He lives in a houseshare with 2 others (one now his girlfriend). They returned there after Christmas  long before Boris told them they couldn't (again that means paying for something you're not meant to be using) . Son has said many times about how difficult he'd have found it if it had been his first year. Son's girlfriend who finishes this year was contemplating a masters but said she's not risking that being an online experience and so will job hunt and consider a masters at a later point in time. So, I would keep an eye on what is happening with students for Sept 21 intake.  

Spendless

Morrigan_2020 said:

74jax said:

Morrigan_2020 said:

74jax said:

For my DD, Her 9k loan covered the course and she got minimum student loan of around £3.5k, her rent was £6k and she kept her job on that she had at 16.she worked for Clarkes so could swap between branches when he came home for holidays so never stopped working. She took as !!!!!! shifts as she could over summer (prime back to school shoes time).
I sent her £15 a week, so I knew she had something for food - I doubt it ever went on food! 

If your daughter got the minimum loan then your household income would have been high enough to essentially ‘make up the difference’.  I think that’s the general idea? 

Yes I think so. But even if she could have had more loans, she wouldn't have needed the full loan (if that makes sence) as her work etc allowed her ample money - she says she had more money then than now.... 🙈
So it's less to pay back I guess. 
It's a very tricky situation but I definately think I'd be putting my DD off for a 2021 intake... Not that she'd listen... 

Her work also meant she had to study in the middle of the night though.  She wouldn't have had to pay you back as her parents, hopefully!

From the info given, sounds more like she studying in the night, due to the sleeping pattern she developed at Uni, combined with possibly discovering the place was quieter if everyone else was out socialising.
Unless they're doing a very 'full-on' course, I was quite shocked to discover how little contact time many degrees are. A lot of it is devoted to self study. Prime time shopping at Clarks is going to be summer hols when Uni is closed as already said. 

tooldle

Contact time does seem to be something that comes up again and again.
I studied a STEM subject and hence had a lot of lectures and practical classes. The whole concept of "reading for a degree" seems to pass many by, or perhaps has even been ditched by some.  Lectures (not lessons) are only part of the story, the rest is reading around the subject and learning independently.
My daughter is currently a second year undergraduate. The reading list she has is huge, and it does take time to work through.