Hey there! Sign in to join this conversationNew here? Join for free

Parents want me to save £12,000 for uni watch

    • Thread Starter
    Offline

    2
    ReputationRep:
    My parents told me if I want to go to a non-local uni then I need to save £12,000 to contribute towards living costs as they won't be able to afford it, neither of the university's in living distance of me have the course I want to do (geology), so I pretty much have no choice.

    My dad saved up for his entire university education by himself as his family was quite poor so they expect myself to so as well.

    Right now I earn about £35 a week and will be going to uni in two years, so far I have nothing saved as I wasn't aware as to how bad our situation is.

    There's no way I can save enough in time as I have to contribute to costs such as clothing food ect. I don't have time for another job, would working summers allow me to save a decent amount?
    Offline

    0
    ReputationRep:
    Talk to your parents, explain to them times have changed and it costs a lot more to go to university + the living costs and food has sky rocketed! Plus depending on your parents income you get a certain grant and loan, get your teachers to speak to them
    Offline

    15
    ReputationRep:
    Isn't 12k too much?

    I mean, you can choose to get a loan for the tuition so you'd only need to worry about accommodation, books and other living costs and I doubt you'll need 12k in the first year. I'm saying first year, because you can get a job while at uni which could earn you more than 35 pounds/week. Also, you can earn more in the summer but that means sacrificing your holiday, which sucks.

    Tbh, I think it's a bit douchebag-ish for your parents to say this now... I mean, they could've told you when you were 12 so you'd have more time to seek advice come with a plan for your finances - imo university is a very serious thing that should be talked about from a very early age. Two years is not as much as you think, for ex my parents and I have been saving ever since I was in kindergarten and I still feel overwhelmed by the amount of money I'll need at uni.

    Maybe you can find a scholarship/grant that could help you. If you say your financial status isn't good, then there is help available for you, I'm sure.

    I think you should focus on getting into university even if you don't save 12k. It is important to get in, after you can find ways to get help with your money. Don't miss on studying because you need to work for money.
    Offline

    4
    ReputationRep:
    If they earn below 25,000 a year, you will be entitled to a grant, and you can always get a summer job and part time job while at uni. You need to tell them that saving up that much is impossible for you, most students do just fine without that amount of savings.


    Posted from TSR Mobile
    • Study Helper
    Offline

    19
    ReputationRep:
    Study Helper
    (Original post by allybop99)
    My parents told me if I want to go to a non-local uni then I need to save £12,000 to contribute towards living costs as they won't be able to afford it, neither of the university's in living distance of me have the course I want to do (geology), so I pretty much have no choice.

    My dad saved up for his entire university education by himself as his family was quite poor so they expect myself to so as well.

    Right now I earn about £35 a week and will be going to uni in two years, so far I have nothing saved as I wasn't aware as to how bad our situation is.

    There's no way I can save enough in time as I have to contribute to costs such as clothing food ect. I don't have time for another job, would working summers allow me to save a decent amount?
    Firstly, are you sure you need that? Because lots of people are in the position where their parents aren't able to financially support them but they still get by - bear in mind that you get a maintenance loan from the government and potentially a grant too, depending on your income (and possibly extra money from the university too). On top of that, remember that you can get a job during the holidays when you're at university. You really don't need to have £12k before starting university. If you somehow managed to get the money then that'd be great but you don't need it.
    Offline

    22
    ReputationRep:
    (Original post by allybop99)
    My parents told me if I want to go to a non-local uni then I need to save £12,000 to contribute towards living costs as they won't be able to afford it, neither of the university's in living distance of me have the course I want to do (geology), so I pretty much have no choice.

    My dad saved up for his entire university education by himself as his family was quite poor so they expect myself to so as well.

    Right now I earn about £35 a week and will be going to uni in two years, so far I have nothing saved as I wasn't aware as to how bad our situation is.

    There's no way I can save enough in time as I have to contribute to costs such as clothing food ect. I don't have time for another job, would working summers allow me to save a decent amount?

    Can I ask how did you find a job?
    • Thread Starter
    Offline

    2
    ReputationRep:
    (Original post by SamuelRiley)
    Talk to your parents, explain to them times have changed and it costs a lot more to go to university + the living costs and food has sky rocketed! Plus depending on your parents income you get a certain grant and loan, get your teachers to speak to them
    Yeah I should be able to get grants and loans but my parents are dead set on me saving loads - I think if I could save about £5,000 and find out what funding I'm eligible for they would reconsider but as I said my parents are very big on the 'get what you work for'
    • Thread Starter
    Offline

    2
    ReputationRep:
    Wow I didn't realise how much replies I'd get haha
    • Thread Starter
    Offline

    2
    ReputationRep:
    (Original post by SiminaM)
    Isn't 12k too much?

    I mean, you can choose to get a loan for the tuition so you'd only need to worry about accommodation, books and other living costs and I doubt you'll need 12k in the first year. I'm saying first year, because you can get a job while at uni which could earn you more than 35 pounds/week. Also, you can earn more in the summer but that means sacrificing your holiday, which sucks.

    Tbh, I think it's a bit douchebag-ish for your parents to say this now... I mean, they could've told you when you were 12 so you'd have more time to seek advice come with a plan for your finances - imo university is a very serious thing that should be talked about from a very early age. Two years is not as much as you think, for ex my parents and I have been saving ever since I was in kindergarten and I still feel overwhelmed by the amount of money I'll need at uni.

    Maybe you can find a scholarship/grant that could help you. If you say your financial status isn't good, then there is help available for you, I'm sure.

    I think you should focus on getting into university even if you don't save 12k. It is important to get in, after you can find ways to get help with your money. Don't miss on studying because you need to work for money.
    See I thought 12k is a bit much as well but apparently the plan is to split it over the four years. They only told me recently as due to recent events we have been left in a pretty bad financial position which is rubbish to say the least
    Offline

    19
    ReputationRep:
    (Original post by allybop99)
    My parents told me if I want to go to a non-local uni then I need to save £12,000 to contribute towards living costs as they won't be able to afford it, neither of the university's in living distance of me have the course I want to do (geology), so I pretty much have no choice.

    My dad saved up for his entire university education by himself as his family was quite poor so they expect myself to so as well.

    Right now I earn about £35 a week and will be going to uni in two years, so far I have nothing saved as I wasn't aware as to how bad our situation is.

    There's no way I can save enough in time as I have to contribute to costs such as clothing food ect. I don't have time for another job, would working summers allow me to save a decent amount?
    Why are you not taking out the tuition fee loan and maintenance loan to support you through your studies. Is it because they don't want you to be in debt after graduation? Is it because it is forbidden in your religion? What's the reason?
    • Thread Starter
    Offline

    2
    ReputationRep:
    (Original post by Raymat)
    Why are you not taking out the tuition fee loan and maintenance loan to support you through your studies. Is it because they don't want you to be in debt after graduation? Is it because it is forbidden in your religion? What's the reason?
    My parents don't want me to be in debt so they don't want me to take out every available loan. Apparently less loans the better.

    Right now it seems it probably a better idea to do so rather than mess around failingly trying to save a acceptable amount of money.
    • Thread Starter
    Offline

    2
    ReputationRep:
    I get that everyone thinks this is ridiculous because I'm not gonna lie; it is but it's not like it's for just first year, it's to be spread out across all of them.

    Hopefully their idea is to get me motivated rather than actually make me save £12,000
    Offline

    3
    ReputationRep:
    I see you're in Scotland. Are you wanting to go to a Scottish uni? Because as far as I understand it they're a lot cheaper than English/Welsh unis.
    • TSR Support Team
    • Very Important Poster
    Offline

    21
    ReputationRep:
    TSR Support Team
    Very Important Poster
    (Original post by allybop99)
    My parents don't want me to be in debt so they don't want me to take out every available loan. Apparently less loans the better.

    Right now it seems it probably a better idea to do so rather than mess around failingly trying to save a acceptable amount of money.
    Have you explained how the repayments of students aren't like the normal loans you'd get?
    Offline

    22
    ReputationRep:
    (Original post by allybop99)
    My parents told me if I want to go to a non-local uni then I need to save £12,000 to contribute towards living costs as they won't be able to afford it, neither of the university's in living distance of me have the course I want to do (geology), so I pretty much have no choice.

    My dad saved up for his entire university education by himself as his family was quite poor so they expect myself to so as well.

    Right now I earn about £35 a week and will be going to uni in two years, so far I have nothing saved as I wasn't aware as to how bad our situation is.

    There's no way I can save enough in time as I have to contribute to costs such as clothing food ect. I don't have time for another job, would working summers allow me to save a decent amount?

    I meant because you're in year11? ( sorry if I'm wrong) so I was wondering how you found a job because I can't find one and i'm a year older than you
    Offline

    17
    ReputationRep:
    £12000 is roughly what you would earn if you worked full time job for a year on minimum wage. If you're getting £35 a week now, there's no way you'll save that in two years.

    It might be more realistic to aim for 3k every year between now and your second year at uni. That way you still get your 12k. You would need to work a lot over the holidays though.


    Posted from TSR Mobile
    Offline

    7
    ReputationRep:
    it isn't too easy to get a job to save that kind of money. i suppose your parents want you to be comfortable for thos 3 years. its not that bad getting all the grants/loans, u won't pay back until you earn 21k, you could always get a job while your at uni, for like one day a week. if you had to save that money what age will you be when you actually go to uni? 21? 22? 26?
    • Thread Starter
    Offline

    2
    ReputationRep:
    (Original post by elmosandy)
    I meant because you're in year11? ( sorry if I'm wrong) so I was wondering how you found a job because I can't find one and i'm a year older than you
    Sorry I'm from Scotland so I'm in fourth year so not sure what year that is in England, but I just went down to local shops and services (hairdressers, chippy, restaurants, newsagents ect.) and asked if they need any help or if there was currently any jobs going
    • Thread Starter
    Offline

    2
    ReputationRep:
    Guys I've talked to my parents and they said I don't need to save as much on the condition I get a job whilst at uni and I've explained to them about the loans (you guys where right, they seemed to have no idea how student loans worked haha). They still want me to save as much as possible but they seem to feel bad for putting lots of pressure on me.
    Offline

    16
    ReputationRep:
    How old are you

    Posted from TSR Mobile
 
 
 
Poll
Do you agree with the PM's proposal to cut tuition fees for some courses?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.