It may come as a shock to you as a parent that it could cost over £16,200 for your child to attend a three year college or university.

That could mean over £5,400 each year from your income or savings.

Why ?

At one time, the only concern for students was how much their grant would be. Although it was invariably never enough, it did cover all of the basic living expenses such as rent, food, books etc.

Over the years, grants were reduced and student loans were introduced to help cover the student's expenses. Although students had a similar amount of money, the emphasis moved towards loans which the students or their parents were responsible for repaying.

For current students education costs have risen dramtically. Grants have now been abolished, leaving students to rely more heavily on loans to meet their living costs. To make matters worse, In September, 1998, the Government introduced measures which mean that most students now have to contribute towards their tuition fees.

This could be as much as £1,025 for the 2000 / 2001 academic year.

The fact is that the cost of attending university is increasing, and will continue to rise.

What are the typical costs each year ? Living Costs Rent £1,576 * Fuel £130 Food/Household goods £1,015 Laundry etc. £97 Insurance £48 ** Clothing £175 Travel £310 Books / Equipment etc £445 Leisure £580 **** Total Living Costs £4,376 Other Costs . Contribution towards tuition fees pa £1,025 (Max) TOTAL COSTS £5,401	Based on NUS estimated average student expenditure for academic year 1997/1998 (38 weeks) - outside London * Based on NUS Accommodation Costs Survey 1996 / 1997 ** Based on British Gas average costs and average electricity charges (assumes four sharing a three bedroomed house) *** Average figures based on Endsleigh Student Contents Insurance Premiums for 1997 / 1998 (Assumes sum insured is £3,000). **** Includes newspapers, refreshements, entertainment and other miscellanous items. All sources adjusted for inflation to May, 1999 in line with data supplied by the Office for National Statistics.
Will your child have to pay tuition fees ?
This will depend upon the amount of your gross family income. Tuition fees have to be paid at the beginning of each year and are payable in addition to living costs.
How much will they be ? PARENTAL RESIDUAL INCOME * TUITION FEES UNDER £17,370 £17,370 - £68,110 AND OVER NII Sliding Scale up to a maximum of £1,025
* For Information about this calculation and eligibility, you should contact the Department for Education and Employment..