Poorer parents ‘more generous’ to children while at university
PARENTS feeling the pinch contribute more than expected to the cost of their children's education, while richer ones give less.
In theory, poorer families with incomes of less than £25,000 are not expected to give extra cash to support their children.
Yet, according to the , children from such families received £54 a month from their mum and dad.
To compare, the average student from a family with a household income of £60,000 was given £193 a month - that's £160 less than expected.
The so-called maintenance loan - student finance for living costs - is pegged against household income and where they ar eliving.
Higher-earning parents are "expected" to contribute more,while students from lower-income households can apply for a larger loan instead.
Contributions also vary by living arrangements, with students renting in London facing the greatest disparity.
In this case, parents earning below £25,000 overpay by £151 a month on average, while those on £45,000-55,000 underpay by £119 a month.
But however much money parents give, most students still struggle to get by, according to the study.
The survey reveals an average student living costs are now £770 a month.
But the average maintenance loan instalment - based on a student living away from home and with a household income of £35,000 - is £600 a month or £170 too little.
A third of students say grades suffer because of money worries, while half report mental health and diet suffers as a result.
Jake Butler, Save the Student’s money expert: “When it comes to student loans, the focus always seems to be on the £9,250 tuition fees or the extortionate interest.
But the real issue is the insultingly low maintenance loans alongside the government’s unwillingness to admit that parents are expected to make up the shortfall.
It’s a huge talking point between students. Are they fully-fledged adults who are expected to fund themselves? Should they be asking their parents for money? Should their parents be forced to help them out?
The government needs to put an end to this confusion by being more explicit about parental contributions aor increase the maintenance loan amount so that it is actually in line with real living costs.”
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According to Citizens Advice, some charities give grants to parents to help with the costs of education.
But bear in mind these often have a limited amount of money to give and usually have very specific criteria which must be met in order to get a grant.
The best is to get in touch with your school to see if a local charity might help.
CASHBACK TO SCHOOL How to claim up to £1,200 a year for school clothing, books and other equipment – find out if you qualify
There are also nifty search tools available on the , and websites - to find out more about what other help you can get.
We previously reported how you can claim up to £150 toward your kid's school uniform from your council- find out here if you qualify.
Free school dinners are also available to thousands of school kids. Here's the lowdown on universal free school meals, and how to apply on behalf of your littles ones.
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