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Thread: Likely University Costs

  1. #1

    Likely University Costs

    I'm looking at what type/level of budgeting I need to be thinking about over the next 5 years.

    First child will be off to Uni in 2020, followed by Second child the following year. So, in trying to get an idea of the level of tuition fees and likely living costs that I should anticipate. I'm guessing the midlife crisis of updating the Porsche and buying a bigger house with a swimming pool is a no longer an option ;)

    Any real life examples would be much appreciated.
    It's just a matter of time...

  2. #2
    Master
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    student loan??

  3. #3
    Loans not available due to children living in a crown dependency. Well, they would likely qualify for a £2500 local government loan, but... in the scheme of things
    It's just a matter of time...

  4. #4
    Master
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    My parents did not incurr any cost. I took the laons, and worked through the summers. Pretty much the same story for everyone I was at university with.

    edit: as a point of reference, my debt currently stands at about £55k

  5. #5
    My two children have gone through this and I have come out the other side poorer, but satisfied as they are both in good jobs.

    The uni loan and the living cost loan were supplemented by me in the following way: I paid for thier accomodation (around £5000 a year) and on top, I put £50 a month into their accounts.

    There were other one off costs which I supported them with.

    In hindsight I think we were just about spot on, but that is my experience. They both studied in Sheffield and had a great time and have come out the other end with good degree's and much more self reliant and confident.

  6. #6
    Unfortunately there is no real facility for the children to take out loans, apart from a £2500 loan towards costs.

    So, likely that we will be covering the tuition fees (minus up to £2500 loan), cost of materials, and living costs.

    & from the following year, there will be two children at Uni - doesn’t look cheap, and might require a sell off. I was hoping to use any sale of watches for a property, but I’m now starting to think that it’s going to be quite an expensive 5 years ahead.
    It's just a matter of time...

  7. #7
    Quote Originally Posted by Omegamanic View Post
    Unfortunately there is no real facility for the children to take out loans, apart from a £2500 loan towards costs.

    So, likely that we will be covering the tuition fees (minus up to £2500 loan), cost of materials, and living costs.

    & from the following year, there will be two children at Uni - doesnít look cheap, and might require a sell off. I was hoping to use any sale of watches for a property, but Iím now starting to think that itís going to be quite an expensive 5 years ahead.

    First year Halls costs blew me away. Anywhere between £115 and £180 per week, location and accommodation type dependant. Now actively considering buying a house for years two and three...

  8. #8
    I remember a couple of friends, a brother and sister, bought a house in Sheffield (with their parents support) while they were studying, and they rented out the three spare rooms, which more than covered the costs.
    It's just a matter of time...

  9. #9
    Master
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    My 2 had tuition fees of £9k per year each and accommodation was about £500 per month in shared houses.
    They both had jobs in years 2 and 3 for spends but I also helped.
    I think they both have approx £50k of debt each.- both achieved 1st and in decent jobs now slowly chipping away at the loan

  10. #10
    Ok, so looks approx. likely:

    £9250 fees per year
    £5000-£6000 accommodation


    Plus spending money.

    So... something like £20k+ per child per year give or take . Does that seem about right?
    It's just a matter of time...

  11. #11
    Master Franco's Avatar
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    Here at University of Sheffield the home fee is 9250/year from 2020 for undergraduates. Careful because if you have British Passport but not been resident in the last two years (e.g. Hong Kong) they may slap the international fees that are about twice for Arts or four times for Medicine.

    Plus about 1000 pound/month budget to live (accomodation, bus, food etc). This is for example what government requires to grant a study VISA. I think you can get away with 800-850/month, plus many students do little jobs for extra cash.

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    Last edited by Franco; 21st October 2019 at 11:50.

  12. #12
    Quote Originally Posted by Omegamanic View Post
    I remember a couple of friends, a brother and sister, bought a house in Sheffield (with their parents support) while they were studying, and they rented out the three spare rooms, which more than covered the costs.
    That certainly seems to be the likely option for us. I'll either buy the house or support my child to buy it, and then rent out the spare rooms to cover her costs and my own. In theory, it might be a good place to park some money until it's needed - which will be well after graduation. We will likely have to suck up the first year Halls costs to ensure that the course is correct and that they're in it for the duration.

    Unfortunately, it seems just like student accommodation fees, I'm also out of touch with house prices....

    I echo the £20k per annum likely total cost.

  13. #13
    Master
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    Quote Originally Posted by hafle View Post
    My parents did not incurr any cost. I took the laons, and worked through the summers. Pretty much the same story for everyone I was at university with.

    edit: as a point of reference, my debt currently stands at about £55k
    Long reply before I go an teach some Marxist theory to MA students (having done Vietnam this morning to second years!). happy for you to PM me anything you want to know about the joys of current UK HE. I've run degrees (in both social science and 'harder' sciences), so it's no problem.

    The quote above is, ideally, the right answer. Get them to save for it themselves ;)

    I realise that's not the way it seems or probably works (I have kids) but legally it is absolutely their own cost. They legally pay the fees, not you, so make sure they are aware of their part in it. They will make a mess of uni if they don't accept their responsibility for what happens, however much you help.

    Anyway, JOKING ASIDE, the main thing to figure out is living expenses at their chosen uni. Uni's with big green campuses ('academic Centre Parks') tend to be cheaper than inner city uni's where the student accommodation is cheek by jowl with professionals in the same area. Some tips...

    1. Don't budget for books, budget for a laptop and that sort of stuff. Any decent uni will do everything it can to have resources that are electronic. There is no need to buy many (or even) any books these days.

    2. Make them aware of the difference between student debt (the fees debt) and private debt. The fees debt is NOT like normal debt; if you never pay it back because you don't earn enough...you never pay it back. But banks WILL try to sell them lots of real debts; credit cards, overdrafts, etc. That is the stuff to worry about because they will be at them about repayment after the degree.

    3. Be realistic about the cost of going out. Even the best students need to enjoy being a student; not just 'library machines'. One of the key things students need to learn is time management, budgeting and work-like balance.

    4. Get them to figure out how much travel they might do in the UK (or Europe?) from uni; they will have time to go other places in the UK, and there is no reason they should not.

    5.My main tip compare the contract for accommodation with the actual period they need to be at uni. Usually accommodation contracts run for sometimes as much as two months after the 'real' period students need to be 'at' uni. Why? Because most Uni's will stop teaching them in the late spring / early summer have an assessment period that then that can up to to six weeks. The accommodation must cover that period because students must do the work (and obviously attend any exams). But there is nothing happening 'day to day' - no classes, etc - because the staff are doing the marking and stuff (and MA teaching is still happening sometimes).

    What this means is unless international fee paying, no-one will check if students really are local. Obviously a student can't say "but I have gone home so will miss my exam" (to which they would be told "tough, not our problem") but for that period sometimes it is a lot cheaper to commute for the (maybe) three or four exams, rather than pay for living at uni. For example, at my place all coursework is electronically submitted with no need to be on campus ;). In short most academic years where you have to be 'in lectures' are about Mid Sept to Easter ish (maybe just into a couple of weeks after). Ask about this kind of thing when visiting Uni's: "what is the real academic calendar?". There is likely to be no flexibility with accommodation for first-year halls (because the University needs to be 'setting the right example') but once getting private accommodation from year 2 it is worth thinking about how much they really need to be physically at Uni from Easter ish.

    6. Everyone knows students will get jobs while studying, it is not a hinderance to doing well to have a part time job. No Uni is going to change what they do in an individual case, or really allow for it, but somewhere in the background we all now know students work as well. I was at a recent academic conference where one question asked of of the the presenters was "what are you doing to allow for the time students have to work outside uni?" and someone on this panel - at a UK uni that rhymes with 'breixter' ;0) - said "what do you mean, they have 115 hours a week to do uni work!", to which most of us in the room just said "get with the programme grandad!". Seriously, the reaction in the room really was "WTF! Not sending my kids there!!".

  14. #14
    Have they explored and ruled out degree apprenticeships?

  15. #15
    Master
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    I feel your pain Scott. Year ahead of you and as you say £15k plus per year 😕. Govt has zero interest in offering financial incentives to make it worth while returning after uni, then wonders why itís difficult to recruit on-island talent.

  16. #16
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    My daughter is in uni at the moment.
    Tuition is capped at (iirc) £9000 pa, this is covered by a student loan in her case.
    Accommodation in on campus halls (in Hatfield so I would say this is average costs with London being higher and more northern universities less but not 100% on that) is approximately £5000 for the year. This is mostly covered by her living costs loan allowance but I do have to supplement it to the tune of a few hundred pounds at the start of each term.
    Living costs I give her £30 a week for food and a laundry card, if she wants more then she has to find her own funds.
    Equipment and trip costs. This is very course dependent, she is on an illustration and design course so there are art and other supplies that she needs, most of these she has anyway but I have earmarked £500 - £1000 per year for this too.

    If I was having to pay this all out of pocket it would be a total of £16,560 per year for however many years.

    I feel your pain.

  17. #17
    Craftsman canuck's Avatar
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    Quote Originally Posted by redsox78 View Post


    6. Everyone knows students will get jobs while studying, it is not a hinderance to doing well to have a part time job. No Uni is going to change what they do in an individual case, or really allow for it, but somewhere in the background we all now know students work as well. I was at a recent academic conference where one question asked of of the the presenters was "what are you doing to allow for the time students have to work outside uni?" and someone on this panel - at a UK uni that rhymes with 'breixter' ;0) - said "what do you mean, they have 115 hours a week to do uni work!", to which most of us in the room just said "get with the programme grandad!". Seriously, the reaction in the room really was "WTF! Not sending my kids there!!".
    I went to Ďbreixterí and took psychology from BSc to Doctorate level. While in my undergrad I worked 40 +\- hours per week with Royal Mail.... this was when I you could work both mail centre (where the collect mail gets sorted) and delivery centres (where the post gets carried out and taken to your house). This was when deliveries started at 5am and on the quiet days (mon, Tuesday, sat) one could be back home and done by nine... on heavier days I would finish by 12ish. If I couldnít make my early classes I would work at the mail centre from 6-11. Then make up hours at the weekend working a 05:00-18:00 Saturday and 10:00 - 03:00 sun/mon. These days deliveries are later, one cannot work at both centres and so the only hope is for mail Centre work.

    By the time I got into grad school I cut it back to 16-22 hours per week and by year two doctorate degree I had to quit all together as the workload for that was more than enough by itself... I would say 100 hours seems very accurate if not a low average.

    I think my experience was not typical and while at work I was quickly made a manager so ended up earning more that I would as a psychologist in the UK. However, if students want jobs I would advise them to apply for a weekend shift at their local mail centre. That gives them time in the week to complete their studies. The part time weekday shifts are all mon-fri 18:00-22:00. That would mean that they might not be able to meet for any group projects on campus etc.

    At Royal Mail they will be working with many PhD students (in my experience made up about 65% of the weekend workforce) and the times are generally Monday Tuesday 18:00-22:00 and then Saturday Sunday. Weekend shifts are usually between 8 and twelve hours long. They will get good at using their time during the week and when completing more monotonous jobs they can study... I used to work though material in my head and plan out essays from what I had read or heard that day while at lectures. It let me solidify the knowledge and in many instances once it came to the actual writing of assignments I had already completed it in my head and readily wrote 2000 word papers in 6 hours start to finish. Developing good study habits is crucial to make this work. Over the longer shifts there are ample breaks to allow for a few papers to be read.

    Whilst I made more than enough to cover my costs my tuition was only something like £1200 for undergrad degree. Working hard during undergrad meant that grad school was pretty much paid for and I had a bursary for my doctorate as I had to work as a trainee psychologist, that was paid.

    While at Exeter during my undergrad I certainly needed to put at least 40 - 60 hours into my studies given the demands of the course... some people put in more... and Iím guessing quite a few did less. (Donít get me started on geography student schedules! Do they actually do actually do anything ?). Those who studied similar hours as myself all achieved firsts and went on to doctorate level with the exception of the two who went into other fields. Once the MSc started it definitely seemed to require 100 hours per week. I found balancing my time very difficult and some assignments were done on the basis ... I have x amount of time... it has to be completed how many marks can I get (I got to know my grading rubric!)

    Working so many hours meant a 4:15 wake up and bed ASAP after work. I saw school very much as a job and also knew that I would have a four month summer! Still worked at Royal Mail but bought into additional vacation time and so had 8 weeks off.

    I left uni with no debt at all and a few skiing trips to the alps after easter exams, a few diving trips to the Maldives and many summers in Canada and Western Europe either visiting family or on my motorbike for 4 weeks or so at a time.

    So although I donít know how much it costs these days it is certainly possible to take a big bite out of those costs and the more they can pay while at uni the better they will be. The savvy individuals will know whether it is better for them to take their loans and work but use their working salary to make investments etc etc. Comes down to interest rates and ROIs etc. Nonetheless, I thoroughly recommend Royal Mail jobs if the students are able to manage working 16-20 hours per week. And yes, they will need to stay around for the summers as they will have a proper job that once finished their studies may very well present more lucrative employment for them depending on how they get on.

  18. #18
    Master jukeboxs's Avatar
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    Hey Scott - my eldest is at Edinburgh Uni. Her accommodation costs are c£500pm (largely covered by her student loan), we give her £200pm for living costs, as well as paying for her food (£80pm) and travel costs. She doesn't have a job, as the vet course is too time-consuming (we gave her the benefit of the doubt on that one). I'm not looking forward to the 2-year overlap when our youngest starts Uni in a few year's time... It's all worth it though!

  19. #19
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    Quote Originally Posted by Franco View Post
    Here at University of Sheffield the home fee is 9250/year from 2020 for undergraduates. Careful because if you have British Passport but not been resident in the last two years (e.g. Hong Kong) they may slap the international fees that are about twice for Arts or four times for Medicine.
    The fee is home/eu 9250 so you wonít have to worry about that.

    I would say about 18-20k is about right for a uni in most locations.
    First year halls are expensive as listed already between 115ish to the skyís the limit.
    Student houses tend to be cheaper. Students live not too far from me and the 3 bedroom houses (in Sheffield) rent for around 650pcm (so 60 odd plus bills per week)

  20. #20
    Craftsman Templogin's Avatar
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    My son was at Aberystwyth for 2 years then 3 at Birmingham. Wherever there are universities there will be gouging landlords! Rents depend on location. I gave him £250 a month to cover his living expenses. He worked throughout his holidays, but nothing in term time. He must be paying his loan back now as he is over the threshold by a fair bit. If I could have done anything more to help it would have been buy a house there, but I wasnít in a position to.

  21. #21
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    Never pay their fees. If you're going to contribute, pay their rent or other costs. They might never earn enough to start paying it back or pay it back at such a small rate that they never repay the whole thing. Imagine paying out circa £50 - £100k that you didn't have to! This advice came from Martin Lewis, not just my two-penneth.

  22. #22
    Many thanks for all the answers so far.

    Edinburgh is his first choice, so we will see.

    He is quite a talented amateur actor, and hopes to take part in whatever amateur dramatics are available at whichever university he attends. Anyone that has taken their kids to any after school activities will no doubt sympathise in regard to the time these type of things take up, on top of study. So while I'm hopeful he might find some work I'm not counting on it.
    It's just a matter of time...

  23. #23
    Quote Originally Posted by TaketheCannoli View Post
    Never pay their fees. If you're going to contribute, pay their rent or other costs. They might never earn enough to start paying it back or pay it back at such a small rate that they never repay the whole thing. Imagine paying out circa £50 - £100k that you didn't have to! This advice came from Martin Lewis, not just my two-penneth.
    Unfortunately that's just not an option. The children live full-time on the Isle of Man with their mother, so there is no such set up for student loans. I live between Australia and the Isle of Man - the Australian system is much easier than the IOM one.

    Any way, I can imagine paying anything from £100,000-£150,000+ (covering just two children over the next 5 years) - so thought I'd better get myself organised.
    It's just a matter of time...

  24. #24
    Quote Originally Posted by Manxdiver View Post
    I feel your pain Scott. Year ahead of you and as you say £15k plus per year . Govt has zero interest in offering financial incentives to make it worth while returning after uni, then wonders why itís difficult to recruit on-island talent.
    It's a real disincentive. Foolishly I was tempted back into longer hours with a new client last year, but that ends shortly, and has affected (obviously positively) my relevant income for any government support. To the extent that while I have no idea how much their mother earns, they will be taking both my income and hers into account, and then at least for the first year the government support of a Max. £2500 loan (@ 2% over base, and not payable until they earn over £25k) isn't going to help too much - but it's something.

    You are right though - there is no real initiative or even much encouragement to return to the island from what I see.

    Another factor for me is that my parents did not support my education, and it just didn't feel possible at the time for me to go to university from school. Since starting work I have paid for all my own graduate and post grad courses, and feel that some encouragement and financial support from my parents would have been both welcome and useful at the time when I was at a similar age to my children. So I'd like to help where I can.
    It's just a matter of time...

  25. #25
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    Quote Originally Posted by TaketheCannoli View Post
    Never pay their fees. If you're going to contribute, pay their rent or other costs. They might never earn enough to start paying it back or pay it back at such a small rate that they never repay the whole thing. Imagine paying out circa £50 - £100k that you didn't have to! This advice came from Martin Lewis, not just my two-penneth.
    This times infinity. The idea the fees is the same debt as private debt is a damaging myth. Never pay them upfront!

    Oh and never, ever, think the Student Loan Company have the students' interest at heart. Make sure your kids read what they send them carefully

  26. #26
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    I think the issue here was that the IOM doesnít offer a student loan facility the same as in England.

    So OP isnít paying tuition out of choice?

  27. #27
    Quote Originally Posted by Sean89 View Post
    I think the issue here was that the IOM doesnít offer a student loan facility the same as in England.

    So OP isnít paying tuition out of choice?
    Exactly. There is no option.
    It's just a matter of time...

  28. #28
    Grand Master Chris_in_the_UK's Avatar
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    Quote Originally Posted by Omegamanic View Post
    Exactly. There is no option.
    A couple of things.

    Firstly, there is no escape from the costs/worry.

    Whilst my daughter (thankfully) is pursuing her chosen path, I have friends who have bankrolled their kids and they have bailed out part way through.

    The best approach is perhaps to fund some of the Ďneedí stuff, digs and course fees and agree that fun money was for them to earn.

    Its not easy and not cheap in my experience.
    When you look long into an abyss, the abyss looks long into you.........

  29. #29
    Thanks Chris.

    I have a colleague with a couple of kids at Uni, and it's been a trying time for him.

    I want to try and help as much as possible/reasonable, but like most things there is a limit without seriously affecting my lifestyle/watch collection and or spending.

    I've also got to get divorced at some stage soon, so that's not going to help matters much :)
    It's just a matter of time...

  30. #30
    Master Kirk280's Avatar
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    Quote Originally Posted by Omegamanic View Post
    Many thanks for all the answers so far.

    Edinburgh is his first choice, so we will see.

    He is quite a talented amateur actor, and hopes to take part in whatever amateur dramatics are available at whichever university he attends. Anyone that has taken their kids to any after school activities will no doubt sympathise in regard to the time these type of things take up, on top of study. So while I'm hopeful he might find some work I'm not counting on it.
    My alma mater! A fine choice.

  31. #31
    Quote Originally Posted by Kirk280 View Post
    My alma mater! A fine choice.
    Cheers Kirk

    :) He still needs to get an offer. Fingers crossed, as it's his first choice and he should get the grades he needs as he's a lot more academic than I was at his age (well ever really).
    It's just a matter of time...

  32. #32
    Quote Originally Posted by Omegamanic View Post
    Ok, so looks approx. likely:

    £9250 fees per year
    £5000-£6000 accommodation


    Plus spending money.

    So... something like £20k+ per child per year give or take . Does that seem about right?
    I have a daughter at university (second year), my son graduated in July of this year.

    Tuition fees are £9,250 per year. My son shared a house for his final year, £110 per week, 52 week contract, my daughter was in student accommodation, £152 per week, 42 week contract. I paid an allowance to them both of £300 per month, plus an occasional handout as and when needed (especially to my son who was ever so easily parted from his money). They both had significant book lists which cost in the order of £300 each per year.

    Your £20k per child looks to be about right, good luck....


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  33. #33
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    Quote Originally Posted by Omegamanic View Post
    Thanks Chris.

    I have a colleague with a couple of kids at Uni, and it's been a trying time for him.

    I want to try and help as much as possible/reasonable, but like most things there is a limit without seriously affecting my lifestyle/watch collection and or spending.

    I've also got to get divorced at some stage soon, so that's not going to help matters much :)
    If itís a choice of either spending the money on the kids or giving it to the wife in a divorce settlement, you might as well spend it on the kids!


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  34. #34
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    Quote Originally Posted by Omegamanic View Post
    Cheers Kirk

    :) He still needs to get an offer. Fingers crossed, as it's his first choice and he should get the grades he needs as he's a lot more academic than I was at his age (well ever really).
    I did my PhD in Edinburgh, what a great place to study and work. It offers of course, apart from a high ranking Russell-group University, a splendid environment to be a student. I was in the Western General, so i was living on the northern shore (Trinity, New Haven) only a walk from work.
    Last edited by Franco; 22nd October 2019 at 08:41.

  35. #35
    Quote Originally Posted by stuie-t View Post
    If itís a choice of either spending the money on the kids or giving it to the wife in a divorce settlement, you might as well spend it on the kids!
    I'm not sure it's a choice of either or - that would be good though :)

    I'm still financially extracting myself from the last relationship that followed my marriage - just hadn't got round to divorcing first, and probably just as well. I think there is a lot to be said for a single lifestyle. I hadn't even planned on having children - I'm sure my brothers are happily laughing to themselves with their lack of (perceived) financial responsibilities ;)
    It's just a matter of time...

  36. #36
    Master Mr Curta's Avatar
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    As an aside, I worked on a stand at the National Apprenticeship Show earlier this year promoting the seven diverse apprenticeships that my organisation offers from Level 2 to Level 7. Apprentices tend to evolve into skilful, loyal and successful employees, and more businesses than ever are recognising this. Earning whilst learning makes for quite a powerful incentive for working hard and doing well.

    I took the opportunity to visit as many other exhibitors as possible and even managed a watch related chat with folks at Martin Baker. I was very impressed with the immense range of options available and although I expect at least one of our daughters to choose to go to university Iíll definitely be making sure that they get to one of these expositions to see for themselves whatís on offer.

  37. #37
    Quote Originally Posted by Omegamanic View Post
    Ok, so looks approx. likely:

    £9250 fees per year
    £5000-£6000 accommodation


    Plus spending money.

    So... something like £20k+ per child per year give or take . Does that seem about right?
    Yes, about thereabouts

  38. #38
    You should match the maintenance grant which is £8944. I think this is expected and covers for accommodation and subsistence. Add fees at £9250.

    For a 3 year Bachelors itís £54,582, or £72,772 for a Masters.

    I hope they donít want to be Doctors

  39. #39
    Quote Originally Posted by TaketheCannoli View Post
    Never pay their fees. If you're going to contribute, pay their rent or other costs. They might never earn enough to start paying it back or pay it back at such a small rate that they never repay the whole thing. Imagine paying out circa £50 - £100k that you didn't have to! This advice came from Martin Lewis, not just my two-penneth.
    Totally agree. My eldest son started this year, and is adamant he wants to support himself. We buy him bits and bobs, but nothing significant - he has saved up from various jobs, now buys and sells stuff on Depop (?) eBay etc and is making enough to do ok financially. I quote ĎIím doing a business degree dad, Iím 18, if I donít have the brains to support myself Iím wasting my money anywayí!! Made me chuckle but Iím proud of him, and here to bail him out if any of his plans fail (just donít tell him!)


    Sent from my iPhone using Tapatalk

  40. #40
    Quote Originally Posted by noTAGlove View Post
    You should match the maintenance grant which is £8944. I think this is expected and covers for accommodation and subsistence. Add fees at £9250.

    For a 3 year Bachelors it’s £54,582, or £72,772 for a Masters.

    I hope they don’t want to be Doctors
    Ok, that seems a good indicator. My son is likely to do Masters, as the courses he is applying for are generally only offered as the 4 year Masters. Daughter hasn’t decided on course or Uni yet, and has another year and a bit to be thinking about her choices before putting suggestions forward.

    Either way, it’s looking costly. I’ll have to see who else is prepared to contribute towards their costs :)

    & there was me considering having another child lol
    It's just a matter of time...

  41. #41
    OP you are aware that a Scottish MA, over 4 years, is actually a first degree? So, given that most kids (my three included, two Scottish educated) do now need further qualifications you may be looking at five years to get to masters level if your sprog goes to Edinburgh?

  42. #42
    Yes, indeed. I donít think he is bothered about getting to a particular equivalent education level - itís just that the courses offered at Edinburgh that he is interested in (as are virtually all their courses) are 4 years Masters.

    Any way, whatís another year of expense in the scheme of things ;)
    It's just a matter of time...

  43. #43
    Master
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    It's an expensive exercise but hopefully worth it.

    I pay the rent for mine and he works. He's worked since he was 14 like I had to and my dad had to. Good grounding I think. Summer job for 3 months, plus the odd bit at Christmas and Easter holidays. Saves up quite a bit. He's at Bristol Uni and managed to get in with one of these events companies - does various sporting events. This year did Cheltenham Festival and a few of the 6 Nations corporate events. Its long hours but good money and good fun. He's in Bordeaux for his year abroad now and went into a couple of pubs and got a bar job straight away. Regardless of what some say, they do get a lot of free time in the 1st and 2nd year. Not hard to find 10 or 15 hours a week for work, study and have a good time. A lot of his mates are racking up loads of debts because they see it as free money, especially the bank overdrafts.

    He did a weeks intern at Barclays bank this year and applied for the full internship for next year. Managed to get it. He gets £2,000 for accommodation and is on £750 a week for 9 weeks so next summer is sorted. The life experience for him will be amazing, even if it's not what he ends up doing. He applied for literally dozens.

  44. #44
    Master snowman's Avatar
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    Sounds like the OP may not have the luxury of NOT paying their fees.

    My daughter studied Law - Her normal degree (from Winchester) was covered, fees wise, by her loan and she lived at home, so no cost there (except car expenses to Winchester, about 40 miles away), but contrary to the earlier comment she spent hundreds on books, maybe that's a Law thing...

    However, she then went to the University of Law in Guildford for her LPC, which cost £12K in fees alone for a year, no student loan available - She has a reasonably well paid job now in Insolvency (which she probably wouldn't have got without the LPC, but strictly speaking she doesn't need it).

    I would always think twice about University - Yes, there's a view that you need to have been to get a decent job, but so many go these days that, unless results (from a prestige University) are stellar, its no kind of differentiator and I see more and more people getting into decent jobs (and, dare I say it, being more useful when they do) through some practical work experience in their early 20s (especially if they've skipped the obligatory year 'finding themselves'...)

    I also see many of my daughter's friends from school returning from University with degrees and either struggling to find jobs or in some pretty menial ones.

    I'm not saying don't go, I'm saying look at the alternatives and see if University is the best option for an individual.

    M

    PS I never went to University, as I was heartily sick of the formal education process by the time I was 18. I'm sure I missed out on lots of experiences (I'm a lightweight when it comes to drinking, for example!), but I don't think I lost out careerwise over the years, although it's impossible to be sure, of course.

  45. #45
    Master
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    Quote Originally Posted by snowman View Post
    Sounds like the OP may not have the luxury of NOT paying their fees.

    My daughter studied Law - Her normal degree (from Winchester) was covered, fees wise, by her loan and she lived at home, so no cost there (except car expenses to Winchester, about 40 miles away), but contrary to the earlier comment she spent hundreds on books, maybe that's a Law thing...

    However, she then went to the University of Law in Guildford for her LPC, which cost £12K in fees alone for a year, no student loan available - She has a reasonably well paid job now in Insolvency (which she probably wouldn't have got without the LPC, but strictly speaking she doesn't need it).

    I would always think twice about University - Yes, there's a view that you need to have been to get a decent job, but so many go these days that, unless results (from a prestige University) are stellar, its no kind of differentiator and I see more and more people getting into decent jobs (and, dare I say it, being more useful when they do) through some practical work experience in their early 20s (especially if they've skipped the obligatory year 'finding themselves'...)

    I also see many of my daughter's friends from school returning from University with degrees and either struggling to find jobs or in some pretty menial ones.

    I'm not saying don't go, I'm saying look at the alternatives and see if University is the best option for an individual.

    M

    PS I never went to University, as I was heartily sick of the formal education process by the time I was 18. I'm sure I missed out on lots of experiences (I'm a lightweight when it comes to drinking, for example!), but I don't think I lost out careerwise over the years, although it's impossible to be sure, of course.
    Part of the issue is that while a degree is indeed no guarantee for a job, these days even the most menial entry level sales job have a 2:1 requirement for applicants. These days many recruiters see a degree as nothing more than a sign that you can commit and work hard. If you want to stand out, then it's a masters as minimum these days it seems.

  46. #46
    Master
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    Euro universities are cheaper I think. Dont know how many teach in English but a doctor/engineer/vet is the same in any country. Once heard a discussion on the radio (couple of years ago) that if you earned less than £40k and got into Harvard, you got tuition fees paid. harvard has a LOT of money.

  47. #47
    Craftsman
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    Have not had time to read the entire thread so please accept my apologies if I just reiterate points previously made.

    We recently put our two kids through university; boy had four years at Leeds including a year on placement in Hong Kong and daughter spent four years in London including a seven month placement in New York. The cost to me give or take a few quid was £144k.

    We made the kids take out student loans so they appreciate the cost of their education but we have them the cash to pay off their loans on graduation. Neither have paid off the debt, which I think is the right thing to do, but instead have the money to start a business or put a down payment on a house etc...

    We wanted both kids to focus on their studies rather than to get jobs, which both would have gladly done. All turned out ok and both got the degrees they deserved without the distraction of working.



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  48. #48
    Craftsman canuck's Avatar
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    Quote Originally Posted by mrushton View Post
    Euro universities are cheaper I think. Dont know how many teach in English but a doctor/engineer/vet is the same in any country.
    Not exactly true. Being awarded a degree in one country can mean you may be required to resist your exams again in another country as well as re doing some residency. After having been through it myself Iíd say take your degree in the country that you want to work in if itís health based.

  49. #49
    Quote Originally Posted by gc52 View Post
    Have not had time to read the entire thread so please accept my apologies if I just reiterate points previously made.

    We recently put our two kids through university; boy had four years at Leeds including a year on placement in Hong Kong and daughter spent four years in London including a seven month placement in New York. The cost to me give or take a few quid was £144k.

    We made the kids take out student loans so they appreciate the cost of their education but we have them the cash to pay off their loans on graduation. Neither have paid off the debt, which I think is the right thing to do, but instead have the money to start a business or put a down payment on a house etc...

    We wanted both kids to focus on their studies rather than to get jobs, which both would have gladly done. All turned out ok and both got the degrees they deserved without the distraction of working.



    Sent from my moto g(7) power using Tapatalk
    £144k! - gulp - although Iím not sure pretend loans and a big wedge of cash at the end is a common experience?


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  50. #50
    Master dejjl's Avatar
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    I have 2 currently at university - Glasgow School of Art and Cambridge - and they don’t qualify for means tested loans. They get tuition loans (£9250 per year each) and we give them about £10K each per year, largely for rent and food. On top of this they get the maximum non-means tested loan of £4K and they have part time jobs too.

    Scottish degrees are 4 years.

    Message me if you want more info.
    Last edited by dejjl; 30th October 2019 at 08:30.

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