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Wednesday, 3 October 2023

Money for university: a parent's guide

If your son or daughter is going to university, there’s financial support available - including student loans, grants and bursaries.

Is your child thinking about university?

By going into higher education, your child will be making a long-term investment in their future.

Not only could it open up a wider choice of careers: they may earn more. Based on the value of money today, over their working life the average graduate will earn around £100,000 more, after tax, than someone with A levels who hasn’t been to university.

There are costs your child will need to cover during their three or four years of study - but there’s also financial support available to help them.

What financial help is available to students?

Use the link(s) below to find out what finance is available, for example:

  • help with the costs of tuition
  • help with living costs
  • extra support - like scholarships and bursaries from your child's college and university

Applying for student finance

Students who apply late may not have their first payment ready at the start of term

Your son or daughter should make their application for financial support as soon as possible after they’ve applied for a course - they don’t need to wait until they have received an offer from a university or college.

If they miss the deadline for applying, they risk not getting their money in time for the start of term.

Your role as a parent

If your child is classed as being dependent on you and they apply for types of financial help which are 'income assessed', you’ll be asked to provide information about your own income in support of their application.

University and college – what’s it like?

You may want to find out more about what higher education will be like for your child - especially if you didn’t go to university or college yourself. Follow the link below for answers to some common questions from parents.

Useful contacts

Additional links

The Diploma

Find out more about The Diploma

A new qualification for 14 to 19 year olds

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