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

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    (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?
    Because you said "injection" used in a phrase like "instant cash injection" - i already dislike you
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    No; my parents were in debt about £1300 to me before I went to university.
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    Yes.
    In my first year it is paying for my £4500 accommodation, since my loan is only £2000. For this, I am hugely grateful towards my parents.
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    Why do people do this in a country with minimal tuition fees that are essentially interest free long repayment loans anyway? And the same for living expenses? Worse that when most of the people on here were born, universities had no tuition fees and higher grants and maintenance loans.
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    (Original post by favh)
    Why do people do this in a country with minimal tuition fees that are essentially interest free long repayment loans anyway? And the same for living expenses? Worse that when most of the people on here were born, universities had no tuition fees and higher grants and maintenance loans.
    Because 4.8% isn't interest free and 115 pounds a month in repayments is quite a lot?
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    I have one but it can only be used for accommodation, fees and books. I have to send receipts for everything. But i'd rather use my own money for food and going out etc. I wouldn't have been able to afford uni without it.
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    Nope, I don't. My family's really quite poor.
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    Nope
    No max loans/grants either but i'm living at home but i'll be commuiting a fair way
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    (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?
    I don't have one, I'm the same as you. In fact, tbh by the time I go I won't even have a grand and a half saved from work, probs just £1000. I'm relying on grants, bursaries and loans though.
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    (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.
    Well at least you've got that saved to help you out mate! I've managed to save up about £700 from my wages and 18th money, but I will try tp use this as emergencies-only fund for rent and stuff. Hopefully.
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    i had like £500 which was intended to grow as it was in stocks and shares, but it didn't. I was allowed to do what i wanted with it, so i bought a car. You don't need a trust fund living in England, that's what the loans are for
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    Nope i havent got one, i went to uni with less than £200 in my bank. Neither do i know anybody with a trust fund.
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    i need a new laptop before i go so alot of the money ill have saved up will be spent on that. ill probably have about £300 of my own money.

    ill be moving up to sheffield hopefully halfway through august cos i dont know the area at all and will get quite lost so that £300 will be dipped into for food while im there (cos while im alone in a flat i dont see me going out all that much to be honest...) but im going up earlier to try and get a head start on getting a job.

    in terms of trust funds my parents are way too poor to be able to do that, my dad is unable to work and my mum is a receptionist. so they dont have any money to be able to give me. and i doubt they would be able to help me out when/if i need it. however my nan put some money into an account for me when i first mentioned uni. and it equals abou £20 a week into my account by direct debit which is such a huge help and i didnt expect it.

    but dont feel crap. most people just go with the money they get in grants and loans
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    my parents just put 3000 pounds into my account every year for spending money, so i dont annoy them every month for money. i guess its similar to a trust fund?
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    (Original post by tea_cakes)
    Nope. Going to Uni is my decision and the cost is my responsibility.
    exactly how my mind works. you hit the nail on the head, i like this (Y)
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    I don't have a university fund.
    I did, but then my mum died and now the fund she saved up was passed on to her abusive ex-husband, as he was legally next-of-kin.
    Now not only do I have to pay for it myself, but that cowardly ******* is running around with the money that was supposed to pay for my education! FML :rolleyes:
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    lol.... you feel like crap because you dont have a trust fund?
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    I don't have one. I'm a grown up now. If I want to go to university, it's up to me to fund it. Frankly, I think it's ridiculous to still get what is essentially pocket money from your parents when you're 18 and not even living under their roof any more. If your loans don't cover all the expenses, get a job. The only time I can understand people taking money from their parents is if they absolutely need to (ie they're on a course that won't allow them a part time job, or loans and a job still aren't enough to survive on). Beyond that, I think it's lazy and disrespectful to your parents.
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    No, but i wish i did. I know quite a few people who's parents pay for everything, then they do the whole get the maximum loan and put it in a high interest savings account. Lol, i swear its been explained to me at least 10 times as if it's some brilliant financial scheme.
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    I didn't have a trust fund per say, my mum just had a savings account where she put money in it for me... then 3 years ago they decided a brand new car is more important!

    I'm not bothered. I'm very thrifty with my money... and even though I haven't worked my arse off over the past year. Most weeks I've only done 8 hours.. I've still got over a £1000 in the bank.. And 2 more months before I go.
 
 
 
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