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

do you have a university trustfund. I don't and feel like crap. Watch

    • Thread Starter
    Offline

    1
    ReputationRep:
    Hi

    Basically im hopefully going off to uni this year, and whilst talking to some of my friends, they have mentioned a trust fund, that thier parents set up for when they go to university, which theyre going to use as an instant cash injection when they need it for parties and going out, i have nothing of the sort, and only have the money i have earnt via a part time job which is about a grand and a half.

    How common is a trust fund?


    how many people have something like this?
    Offline

    9
    ReputationRep:
    I've got one, my Aunty opened a savers account for me when I was born for University. Got my cash when I turned 18 earlier this month. Although LOADS of people don't have this, so don't worry! The money you've accumulated should be enough
    Offline

    0
    ReputationRep:
    i don't and i don't know many who have. If you have a part time job this summer and get one whilst at uni you should be alright for money
    Offline

    0
    ReputationRep:
    I don't have one, and I don't know of anyone who does have one! Don't worry about, plenty of people go to uni without them
    Offline

    2
    ReputationRep:
    (Original post by priceless_beauty)
    Hi

    Basically im hopefully going off to uni this year, and whilst talking to some of my friends, they have mentioned a trust fund, that thier parents set up for when they go to university, which theyre going to use as an instant cash injection when they need it for parties and going out, i have nothing of the sort, and only have the money i have earnt via a part time job which is about a grand and a half.

    How common is a trust fund?


    how many people have something like this?
    Well, if your friends are going to just dip into it for menial things like parties then it completely defeats the point of having a trust fund anyway.

    I would say they're fairly common, it really depends how forward-looking your relatives are.

    £1500 should be well enough to live on for the year, excluding rent payments. Just budget carefully and don't spend it all on alcohol!

    Yes, I have one, my grandparents set it up for me years ago and I can't access the cash until I'm 21.
    Offline

    1
    ReputationRep:
    I don't have one, (in fact i've only got 31p to my name at the moment) I don't know anyone with one either
    • PS Reviewer
    Offline

    20
    ReputationRep:
    PS Reviewer
    Don't feel crap about it. I only know of one person who has one. I'm sure more people don't have one than have one
    Offline

    2
    ReputationRep:
    I don't. Personally, I think that when you get to uni it's time to get off the parents' tits and become a bit more independent. It builds character to earn everything yourself rather than just relying on your parents' money. Now of course there's nothing wrong with your parents giving you money. Whether you receive just a minimum when you're in trouble (perfectly natural), or even if you receive tons. Can't judge people for wanting to get more money from their parents if it's available to them. College is for partying and having a good time, and money helps.

    However, I still think that going it alone is the harder choice, and thus the most rewarding (in terms of what you'll learn). There are no obstacles, only opportunities for excellence.
    • Thread Starter
    Offline

    1
    ReputationRep:
    (Original post by G50)
    I don't. Personally, I think that when you get to uni it's time to get off the parents' tits and become a bit more independent. It builds character to earn everything yourself rather than just relying on your parents' money. Now of course there's nothing wrong with your parents giving you money. Whether you receive just a minimum when you're in trouble (perfectly natural), or even if you receive tons. Can't judge people for wanting to get more money from their parents if it's available to them. College is for partying and having a good time, and money helps.

    However, I still think that going it alone is the harder choice, and thus the most rewarding (in terms of what you'll learn). There are no obstacles, only opportunities for excellence.
    You ******* Rock. Repped. Great Post.
    Offline

    18
    ReputationRep:
    I did, twas pretty great and means I don't have to have a 115 pound drag on my income every month.
    Offline

    12
    ReputationRep:
    Personally, I think it depends on what you're planning to pay for. This really comes down to where you live and therefore what day-to-day purchases you have to make. In my year of part-time work (since last June), I'm going to make enough money to just about pay for a year of halls. Of course, I'll have to augment it a little bit with the Bank of Mum and Dad, but I've tried to graft to keep that to a minimum. I don't plan to work through first year due to the nature of my course, but I feel that I've more than made up for it with my current timetable of employment.

    Of course, it would be fantastic to fully fly the nest and to be completely independent. However, in these troubled times it has become more difficult to do that. I think the least we can to it to take some of the slack by taking up as much work as we can manage. It's only fair on the generation above us, who had to do the same, after all.
    Offline

    0
    ReputationRep:
    (Original post by priceless_beauty)
    Hi

    Basically im hopefully going off to uni this year, and whilst talking to some of my friends, they have mentioned a trust fund, that thier parents set up for when they go to university, which theyre going to use as an instant cash injection when they need it for parties and going out, i have nothing of the sort, and only have the money i have earnt via a part time job which is about a grand and a half.

    How common is a trust fund?


    how many people have something like this?
    wow, i wish!
    im nearly 20, am off to uni in september, work full time, i have £3000 in credit card debt to go to uni with, no savings, and no trustfund, no chance of even saving (as all my money goes on rent and bills and weekends), so you'll be absolutely fine... :yes:
    Offline

    0
    ReputationRep:
    Nope, I don't have one. Not because my parents/family didn't think of it, but just because financially it was not possible and still isn't. Therefore I just worked hard, did an internship at an investment bank in Abu Dhabi, tried to impress...and I prevailed. They have given me a £100,000 fund for my university education (in return I work for them for 7 years minimum after graduation...lol like as if that is repaying the debt, to me that's just another bonus I have a job and a career sorted now), so I'm glad I could get out of my poor financial predicament.
    Now I'm actually glad that I didn't have a trustfund, because then I wouldn't have worked so hard and got this huge funding, which is worth far more than most trustfunds.
    Offline

    18
    ReputationRep:
    (Original post by Entangled)
    It's only fair on the generation above us, who had to do the same, after all.
    They didn't really, they didn't have fees (admittedly they aren't upfront anymore so are no longer a drag) and they had grants.

    Its pretty much the reason my parents saved for my university living costs so I would be in the same position they had.
    Offline

    1
    ReputationRep:
    Why would it make you "feel like crap"?
    Offline

    12
    ReputationRep:
    (Original post by Quady)
    They didn't really, they didn't have fees (admittedly they aren't upfront anymore so are no longer a drag) and they had grants.

    Its pretty much the reason my parents saved for my university living costs so I would be in the same position they had.
    My parents studied in Scotland, just as I'm about to do. Grants covered tuition fees back in the day, whereas SAAS covers them nowadays. So from my point of view, I'm on a level playing field with the generation above.
    Offline

    0
    ReputationRep:
    i dont have a trust fund i know of no1 who has got one!
    i work part time and i will continue to do so when i go uni this should tie me over and i will call mum and dad if things get to the point where i cant wash my clothes or afford 7p noodles lol
    Offline

    13
    ReputationRep:
    I don't have one, and if I'm honest, I don't mind too much.

    Most of my friends are quite well off, so most of them either have funds to pay for the whole time at uni (£30k ish) while others have funds to pay for all the tuition.

    It does annoy me a bit when they plan on getting maximum loans while there, just to accumulate interest in a bank account. It only annoys me because I'm just a tad jealous.
    Offline

    18
    ReputationRep:
    (Original post by Entangled)
    My parents studied in Scotland, just as I'm about to do. Grants covered tuition fees back in the day, whereas SAAS covers them nowadays. So from my point of view, I'm on a level playing field with the generation above.
    Ahhh that makes more sense now
    Offline

    12
    ReputationRep:
    (Original post by PJ991)
    It does annoy me a bit when they plan on getting maximum loans while there, just to accumulate interest in a bank account. It only annoys me because I'm just a tad jealous.
    And everybody that pulls that trick is always the first to do it. And will explain it to you at great length. Because they're financial masterminds who have discovered a loophole. Better yet, they're the first to discover the loophole.
 
 
 
Reply
Submit reply
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Updated: July 20, 2009
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Brussels sprouts
    Useful resources
    Uni match

    Applying to uni?

    Our tool will help you find the perfect course

    Articles:

    Debate and current affairs guidelinesDebate and current affairs wiki

    Quick link:

    Educational debate unanswered threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • 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

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