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My parents can afford but will not pay for my university

I have an offer from the university of Warwick but although my parents are in the top 1% of earners they will not pay for it. What can I do because I still want to go there?

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Reply 1

kev23s

Original post by Fred10

I have an offer from the university of Warwick but although my parents are in the top 1% of earners they will not pay for it. What can I do because I still want to go there?

student loan ????

Reply 2

GabiAbi84

Are you applying for student loans?

Reply 3

username5581402

Original post by Fred10

I have an offer from the university of Warwick but although my parents are in the top 1% of earners they will not pay for it. What can I do because I still want to go there?

I think it is because they believe in loans.

Reply 4

nikk09

Original post by yeye21

I think it is because they believe in loans.

it’s because OP’s parents earn that much OP doesn’t qualify for a student loan (or one that will fund uni expenses)

Reply 5

nikk09

My friend is in the exact same position as you and as a result had to apply to unis close to home and stay at home. Will they not support you at all?

Reply 6

username5581402

Original post by nikk09

it’s because OP’s parents earn that much OP doesn’t qualify for a student loan (or one that will fund uni expenses)

anyone can qualify for a student loan, it's just that you would qualify for the minimum levels

Reply 7

Fred10

Well I said I didn’t need one on my ucas application because they said they would but now they have said they won’t.

Reply 8

nikk09

Original post by yeye21

anyone can qualify for a student loan, it's just that you would qualify for the minimum levels

Look you're 11 so I get that you don't understand how this system works

i put that in brackets? I’m 18 but cheers

Reply 9

Fred10

Yeh I guess I could do that but there’s no way I’m going to be able to cover the cost just working for a year

Reply 10

Interea

Original post by Fred10

Yeh I guess I could do that but there’s no way I’m going to be able to cover the cost just working for a year

The cheapest accommodation at Warwick would cost you £3080 for the year, and you'd be entitled to about £4200 in student loans, so you'd be fine if you just worked a bit to give you a bit more of a safety net.

Reply 11

nikk09

are there any scholarships/ bursaries you might qualify for?

Reply 12

Interea

https://warwick.ac.uk/services/accommodation/studentaccommodation/whitefields Not too bad surprisingly

Reply 13

Joinedup

Pay for what? uk resident students get a loan to fully cover the uni tuition fees regardless of the household income...

The loan that reduces with increasing household income is the maintainance loan which is for living expenses apart from the tuition fees. High income parents aren't expected to pay uni tuition fees but they are expected help with your living costs.

Reply 14

Fred10

Thank you very much. I have around £5,000 in savings so it seems that I could make it work. Thank you to everyone who commented!

Reply 15

emileeeei

Original post by Fred10

Thank you very much. I have around £5,000 in savings so it seems that I could make it work. Thank you to everyone who commented!

thats more than enough - youre eligible for 4000 maintenance loan and you have 5000 - thats 9,000 for the first year, s so you only need to save 5000 per year whilst studying to have 9000 every year of your course (the loan is per year)

Reply 16

Hugh's Swan

Original post by Fred10

Thank you very much. I have around £5,000 in savings so it seems that I could make it work. Thank you to everyone who commented!

Also you can go into overdraft on your bank account interest free if you are desperate - its not recommended for getting into too much debt but I think many higher income parents would end up paying some of that off rather than the interest on it.

Reply 17

Icosagon

Original post by yeye21

anyone can qualify for a student loan, it's just that you would qualify for the minimum levels

Look you're 11 so I get that you don't understand how this system works