A reasonable Student allowance?
For anyone with a kid who is about to start Uni, or already has one attending, what is a reasonable weekly or monthly allowance outside of accommodation, bills or tuition fees - i.e. food, social and general living allowance? For the first year we are looking to fund this rather than them take a loan. Keen to get a reasonable balance between not having them eat beans every day, but also not funding daily take-ways and nights out every night! thanks
A reasonable Student allowance?
Quote:
Originally Posted by
deejay
For the first year we are looking to fund this rather than them take a loan.
Either fund them all the way through if you believe they are going to be high earners after university, or have them take full loans.
It makes no sense to partially fund them. Just means there is more of a chance that you fully end up paying off the loan after 30-odd years.
You have until May 2023 to decide, so you can fund them now, and if later on you decide a loan is better you have until May 2023 to retrospectively apply for the first year of studies. Suggest you read this;
https://www.moneysavingexpert.com/st...-fees-changes/