Do your parents help you out with money at Uni? Watch

senator88
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#1
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Hiya, just wondering. My friend at work goes to uni and said that she gets just about all the maximum loans and grants, and her parents give her 100 quid a week, and this still isn't really enough to live on. Oh, and she is in catered accomodation as well. She said she can barely afford one night out a week. Does this sound about right?! And from what I gather her accomodation isn't paticularly expensive.
My parents can't really afford to give me 100 pound a week, I mean thats nearly the price of their rent a month. So, do your parents give you anything? She has really started to panic me.
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dipless
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TBH she is over spending by a massive amount. Most students seem to get by on £50/wk after rent fees etc some much less than this! I wouldn't worry and most parents can't give £100/wk. Work out what loan your getting minus your accom and divide the rest by 41 if you have over £40 then you may be ok if you budget less than, start saving some now to top it up or get a part time job whilst your there.
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Princess Bubbles
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Nope my parents don't. Your friend sounds like she spends way too much!
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angelmxxx
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That's crazy! If you get the maximum loan + grant then you'll also be guaranteed a bursary from your university. So unless you go for the most expensive accommodation or are a very expensive city that isn't London (eg Edinburgh) you should be fine without any parental help.
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Emmaleuk
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My parents don't either. I'm at Exeter and rent is expensive here. Sometimes it's a struggle surviving on loans (this term for example I got right to the end of two overdrafts (and I hardly ever go out...and if I do I spend very little). It's nice if your parents can afford to, but an extra £400 a month? What on earth does she spend it on!?

I agree with the idea of saving some before uni. I did this and it got me through my first year comfortably. My final year I didn't manage to get a job over summer and it's been a huge struggle (but doable).
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JaiiStarh
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Wooow,I'm not at uni but I know lots of people who currently are,and they do not get much support from their family. I've figured out I am going to be living off of £55 per week,so I have made up a plan where I have asked my Mum to pay for my food shopping weekly online,and then she will get it sent to me. Hopefully that will help me quite a lot, and the rest of my cash can be spent on leisure activities or any other resources that I need.
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prospectivEEconomist
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Pointless question. Obviously parents who can afford to will.
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Aramiss18
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My nan sends me £50 a month and my parents give me the odd bit here and there. They want uni to be a financial learning curve. I dont get a grant/bursary but with work here and there I survive. You should be fine just get a job asap and try to save where you can. The girl you mention shouldnt get grants, what a waste of money.
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EnVogue
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Mine have to, even with my job for the summer and what I've saved so far, I'll still not be able to cover living expenses
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Martinkillwell
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I get the lowest maintenance loan and my parents would rather pay the tuition fees up front to save the 6%. So therefore they give me £10,000 to live on which I'll need for Cambridge.
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kat2pult
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#11
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Woah. I get the basic maintenance loan, only. My accommodation takes most of it up, and last year, halls were £700 more than what the loan I got (halls are actually very expensive). If it wasn't for the Bank of Mum and Dad, I don't know what I would have done. My uni area has a high rate of unemployment, so getting a job is near impossible.
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jthlm
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i have no idea how i'm going to cover living expenses, my loan won't even cover all of my accommodation fees. because my mum lives with her partner i'm not eligible for any maintenance grants/loans but he won't be giving me any kind of financial support at uni and my parents can't afford to either. definitely going to have to look into some part-time work.
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Lucygator
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your friend must have some expensive nights out then!
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modgepodge
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(Original post by senator88)
Hiya, just wondering. My friend at work goes to uni and said that she gets just about all the maximum loans and grants, and her parents give her 100 quid a week, and this still isn't really enough to live on. Oh, and she is in catered accomodation as well. She said she can barely afford one night out a week. Does this sound about right?! And from what I gather her accomodation isn't paticularly expensive.
My parents can't really afford to give me 100 pound a week, I mean thats nearly the price of their rent a month. So, do your parents give you anything? She has really started to panic me.
This is exactly what is wrong with the loans system. If she gets max loans and grants, her parents must earn less than £25k between them (I think - not much anyway). They are giving her £3k of this! that's like 1/6 of their total pay, let along take home. She doesn't need the grants - my guess is they've fiddled the system somehow.

Your friend has loads of money. Does she shop in Jack Wills by any chance? When I was uni, I got minimum loan (£3500ish) and no grant, my Dad gave me £1500 in the first year, and then paid my rent in the next two years (so just under £3k each year). We agreed this was fair as it was his high income that prevented me getting a bigger loan etc, and he could afford to. I went out 2 or 3 nights per week, went shopping, ate out a couple of times a month etc, I wasn't that hard up. I did work each summer holiday to earn £1000-1500ish, plus maxed out my overdraft.
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senator88
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Well i'm glad i'm not the only one! I mean my parents will probably help me out as much as they can, but not that much as they cant. My accomodation is so expensive however, and i'm pretty sure i will have hardly anything left to live off. I do already have a part time job but saving seems impossible it is minimum wage. I'm applying for other ones but its just not happening..
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SirMasterKey
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She's spending far too much.

I got the basic loan plus an extra £56 due to parents income.

I have had to go to them for help and they will give me some so I can eat. I think they see my overdraft like I do and a last resort.

I can survive on >£20 a week on food and that is really the upper head of the scale. (I rarely go out as it is so that helps with overall costs.) It's easy enough to survive on a feasible low enough amount.

I COULD go out and buy tonnes of basics like rice and pasta and just live off them and so have more money left over for other things but at the end of the day, I do want a varied diet.
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steph_v
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#17
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Mine do and they need to. My loan didn't even cover my accommodation and although I have saved prior to university, my course means that I can't get a job during or out of term time due to the amount of placement we have to do in holidays. Your friend is either talking **** or she's just ridiculous. I get the minimum loan and there is no way I need £100 a week from my parents. Liverpool is cheap to live in and I go out on average about 3 times a week (spending anywhere between £7-20 each time, but usually around the £12 mark) and probably spend about £15 on extra food (I'm catered)/pointless crap that I need to stop buying. Rent is £110 a week, inc. food. I could definitely cut this down and I will next year but I'm lucky because my parents can afford to help me out a bit, but your friend is making a mockery of the loans system.
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OmicronPersei8
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#18
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No but I tend to help them out with money more than they help me. I live at home so it's only right that I chip in every now and again.
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Persephone9
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#19
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I get a non means tested loan, and my parents pay for accomodation, leaving me with about £60 a week. I spend on average:
£15 a week on food (and that's eating normally for me)
£9 a week on predrinks (Aldi dark rum is surprisingly good, and works out at about £3 a week, as a bottle is almost £9)
£10-20 on nights out (a night out works out at about £10, including the bus there and back. I do most of my drinking at predinks, so only buy 1-2 whilst I'm out. I'll also limit myself to 2 nights out or 1 and a cinema trip, occasionally less depending on workload).
£4 societies (£40 per term)
£4 a week laundry
£2.50-5 a week transport (not including nights out)

What's left from that week I'll either spend on clothes or save.
Unless your friend does a huge amount of shopping/doesn't predrink/gets taxis everywhere/possibly lives in London then she's spending way too much.
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SQ918
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#20
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They will have to.

I get £40 a week from my parents. I don't think its enough.

My expenses:
£10/ week for lunch

the £30 goes to my savings for Uni.

I don't pay my bus pass because my parents pay £65 a term for it.
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