Postby AHW » Mon Mar 13, 2023 7:57 am
I have one at uni, and another heading there in Sept (with two more coming along...!). It is slightly up to you as to whether you want to pay their fees AND their maintenance which could easily be £20k a year.
However, most people I know take the loans for the fees, and then have to top up the maintenance anyway because we only get the minimum amount (just over £4k a year). We are essentially paying my son's college bill each term, which is about £2200 for each 8 week block, and then he lives on the maintenance that is left. However, he lives cheaply because he is doing an intense course that means he barely has time to socialise, the accommodation is relatively cheap, and he's at a uni which has short, intense terms.
My daughter is probably going to cost us more - at one uni Open Day we visited recently, the accommodation we saw would have taken the almost all of the maintenance loan, so we will have to find more cash (and she will work in the holidays) to fund her costs.
The students we spoke to were a bit shocked at how much more their accommodation is going to cost next year but with utilities/wiFi etc all included, it's not surprising.
I don't know how old your children are, but the govt. may change the funding etc by the time yours are there, but it is wise to have done some saving...!