My parents can afford but will not pay for my university

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Fred10
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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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kev23s
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(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 ????
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GabiAbi84
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Are you applying for student loans?
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username5581402
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(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.
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nikk09
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(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)
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nikk09
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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?
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username5581402
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(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
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Fred10
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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.
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nikk09
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(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
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Gaddafi
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You're not going to get much of a maintenance loan. Ask Warwick if you can defer a year and live at whilst you work and save up?

Alternatively get a job in the summer. If you're fit and healthy you can work 80-90 hours a week and could save up about £9,000 in 3 months with a minimum wage job.
Last edited by Gaddafi; 8 months ago
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Fred10
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(Original post by shak101)
You're not going to get much of a maintenance loan. Ask Warwick if you can defer a year and live at whilst you work and save up?
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
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Interea
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(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.
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nikk09
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are there any scholarships/ bursaries you might qualify for?
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Gaddafi
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(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
I edited my comment just before you posted this. You can save about £9,000 in 3 months. If you work 80 hrs a week. But if you take a year off you can work at a slower pace.

Also, you will get a full loan for your tuition fees (you can still apply for that.) It's only your maintenance costs. You can save £20,000-£25,000 if you live a year at home and don't have to contribute to household expenses. Looking at the costs of accommodation none of that seems necessary though as you should be able to work on the side.
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Gaddafi
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(Original post by Interea)
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.
Damn that's well cheap. I assume this accommodation isn't great though?
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Interea
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(Original post by shak101)
Damn that's well cheap. I assume this accommodation isn't great though?
https://warwick.ac.uk/services/accom...on/whitefields Not too bad surprisingly
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Joinedup
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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.
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Fred10
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(Original post by shak101)
I edited my comment just before you posted this. You can save about £9,000 in 3 months. If you work 80 hrs a week. But if you take a year off you can work at a slower pace.

Also, you will get a full loan for your tuition fees (you can still apply for that.) It's only your maintenance costs. You can save £20,000-£25,000 if you live a year at home and don't have to contribute to household expenses. Looking at the costs of accommodation none of that seems necessary though as you should be able to work on the side.
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!
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emileeeei
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(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)
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Hugh's Swan
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(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.
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