Paying for Childrens College

flatty

B0jangles wrote: »

Boom_Bap wrote: »

Put the 3 of them into a no-holes-bared, hell-in-a-cell, fight to the death.

It reduces you daily bills immediately and college fees will be a third of what they could have been.

Hope to god that's a typo...

I hope it isn't

hurler32

hurler32 wrote: »

Not going to be this year but ive 3 children junior cert down to 6th class so ive college coming at me big time in 3 years or so with the possibility of 3 in college at the one time.
We're a single income household of 50K, can just about pay the mortgage, cloth and feed ourselves , how can one be expected to fund college fees , accommodation if necessary , is there loans the children can get to pay back when they start working?...or am I as well off give up my job and let them get grants?

There are other supports besides getting a grant. Have you heard of HEAR Access schemes?
Your child could always work part time and pay their own way.
Choose your college carefully. Try and get one that is near home thereby getting rid of the need to pay rent.
Keep in mind that in case the course isn’t what they want, put off paying fees until end of first semester. If they change their mind, you’re not too much out of pocket.

RunRoryRun

Roadtoad wrote: »

If they are blessed with getting into a high workload course ye cannot expect any part time job, except perhaps during holidays.

I really don't see an issue with weekend work for students, even with high workload. I did it myself & was fine. 35~ hours per week. Worked Thursday evenings & daytime Saturday & Sunday. Holidays can be taken around / before exams for extra study time etc.

Wanderer78

hurler32 wrote:

Not going to be this year but ive 3 children junior cert down to 6th class so ive college coming at me big time in 3 years or so with the possibility of 3 in college at the one time. We're a single income household of 50K, can just about pay the mortgage, cloth and feed ourselves , how can one be expected to fund college fees , accommodation if necessary , is there loans the children can get to pay back when they start working?...or am I as well off give up my job and let them get grants?

It's not a problem op, we have 'free education' in this country, I wish you and your family a happy and prosperous future

Ray Bloody Purchase

Move down the bench, Scotty.

Gyalist

jester77 wrote: »

Any of them daughters? They could work as strippers or find a sugar daddy to pay the way.

LirW wrote: »

2 of my German friends do it that way or at least did for a while, you'd be shocked how many girls actually fund their education like that. Main struggle is demanding courses and little work that accommodates their schedule.

https://www.youtube.com/watch?v=AmGcS-1PcKw

c68zapdsm5i1ru

RunRoryRun wrote: »

I really don't see an issue with weekend work for students, even with high workload. I did it myself & was fine. 35~ hours per week. Worked Thursday evenings & daytime Saturday & Sunday. Holidays can be taken around / before exams for extra study time etc.

I agree. I worked full time and went to college at night and got a BA and an MA that way. Many, many people do this. So part time work for full time students shouldn't be an issue.

ytpe2r5bxkn0c1

We put the children's allowance away for college fees but were lucky to clear the mortgage before uni came along and that really made it possible for us.

Wanderer78

Mayson Dead Knickers wrote:

I agree. I worked full time and went to college at night and got a BA and an MA that way. Many, many people do this. So part time work for full time students shouldn't be an issue.

They do indeed, and many a relationship or marriage was pushed to breaking point to I'd imagine

LirW

Wanderer78 wrote: »

They do indeed, and many a relationship or marriage was pushed to breaking point to I'd imagine

MY grandfather is so proud on what the has achieved by education while working full time, but never tells about how the full weight of literally everything else was pushed on his wife, they have a difficult relationship, it turned him into a sick man that had a lot of anger in his life and resented his own son for not doing it exactly the same way. I'd be really careful there, a lot of people downplay the effect it had on their mental and physical health.

Some deal with that enormous pressure just fine, some absolutely don't.

Heres Johnny

When I was a financial advisor and working with families I focused on 3 areas

I loved the idea of college fund building as I know my father did it for myself and siblings. The amount of people ignoring this is huge. It's coming and if you're not prepared then you'll be borrowing 30000 per child for a 3 year degree or severely curtailing your own quality of life to pay for it while they are there. Why anyone would do that to themselves I don't know. But people love putting things off.

1) People funding their own retirement
2) People with children definitely 5+ years but probably closer to 10 years out from college starting an investment fund. If you start earlier its much easier. Those with children starting college in 5 years or less setting up a risk free savings account
3) Protection in case things went tits up with 1 or both parents dying or getting sick

All obligations covered there. People very grateful when you cover this for them. You'll get mad answers in after hours but if you want to ask over in banking investments and pensions forum you'll get straighter answers

Wanderer2010

hurler32 wrote: »

Not going to be this year but ive 3 children junior cert down to 6th class so ive college coming at me big time in 3 years or so with the possibility of 3 in college at the one time.
We're a single income household of 50K, can just about pay the mortgage, cloth and feed ourselves , how can one be expected to fund college fees , accommodation if necessary , is there loans the children can get to pay back when they start working?...or am I as well off give up my job and let them get grants?

Although I don't have specific advice for you, its actually humbling to read of people having this problem as for me, college was and in many ways still is, the bane of the working class. I had to save up for a year in order to pay my way through college and I applied for every single grant I could get and even that wasn't great, and I was surprised by how many of my fellow students had their fees and living expenses 100% paid for by their parents.

This just wasn't an option for me- not because my parents wouldn't help me, they simply didn't have it. They had low paying jobs and made a lot of sacrifices for us growing up and its something which a lot of people just cant relate to- I felt almost bad when making friends at college and I couldn't afford to buy a new car or book etc, when my college mates would just brush it off as "Well, my dad paid for it obviously" as it it were the weirdest thing in the world not to have wealthy parents...

LirW

This just wasn't an option for me- not because my parents wouldn't help me, they simply didn't have it. They had low paying jobs and made a lot of sacrifices for us growing up and its something which a lot of people just cant relate to- I felt almost bad when making friends at college and I couldn't afford to buy a new car or book etc, when my college mates would just brush it off as "Well, my dad paid for it obviously" as it it were the weirdest thing in the world not to have wealthy parents...

I know exactly where you're coming from, was in the same situation myself, so is my sister. I dropped out and focused on my job full-time because I couldn't manage the load of a full-time degree, work and being a single parent. My sister is hanging in and close to finishing her BA being a single parent but she couldn't squeeze in work either.
I've met all sorts of students, but back home we had no fees in university and it would be the norm that kids would move and get jobs unless being in a full-time degree that has a strict schedule like medicine.
My partner had an all expenses paid time on university and we had quite some arguments over that because being under huge financial pressure and studying is an insane pressure and has a huge effect on your social life, your mental health and often physical health (exhaustion hello!), because failing is no option.
Now that living costs become increasingly higher it again hits the working class, too poor to do it, too rich to get grants. Fees alone would be fine but many students have no choice but relocate because commuting isn't doable and living costs are high.

The Princess Bride

Adelynn Salty Cocaine wrote: »

We put the children's allowance away for college fees but were lucky to clear the mortgage before uni came along and that really made it possible for us.

We did this too.
But having 3 within 5 years made it very expensive despite our saving-all 3 are in college this year and thankfully we're almost at the end of the most financially challenging year of 6 in total.

Having said that.
None of our children suddenly wake up aged 17 in LC year.
We all know that this day is coming and I think it's a poor reflection on a parent to not be able to plan ahead and provide for their child's education.

I don't understand how some folk spend thousands on a wedding day, or hundreds on bouncy castles for communions, yet moan and whinge about saving towards an education fund.

As for sending your child to local colleges, it isn't always an option.
Each of ours are in different provinces.
The course one is doing is only available in a particular college far from home.

We always said we'd give them their education and we're doing it.
They're under no pressure from us to go to college, by the way. An apprenticeship or a job would be fine too.
Sitting at home and doing nothing is the only thing that isn't an option here.

eviltwin

I've one in college at the moment, it's a local college so no accommodation but even so I'm broke. She's living abroad this year and I'm crippled paying her rent but I see it as an investment. Once she graduates that's my job done, she can fund any further education herself. My other child won't be in college for at least ten years so I can start saving for him when she's done. I don't know how people manage two or three going to college at the same time.

fatknacker

Tell them not to stress about getting points in the leaving. The less academic of them can get jobs, save, go abroad, get experience and come back at 23 and become a mature student in whatever they may become interested in at that time. They can even do it part time and work to fund themselves.
Less pressure on all of you.

LirW

We all know that this day is coming and I think it's a poor reflection on a parent to not be able to plan ahead and provide for their child's education.

Unfortunately there are families out there that don't have it all ponies and roses and even though they work their backsides off are out of pocket at the end of the month.

Having said that, the cost of college accommodation is absolutely outrageous, there are purpose built buildings lashed up everywhere but the target market is the upper end really. What the hell are they thinking?
After all education is the best that can happen to a country yet paying for it is a struggle for many. I just don't see the point of it.

LirW

fatknacker wrote: »

Tell them not to stress about getting points in the leaving. The less academic of them can get jobs, save, go abroad, get experience and come back at 23 and become a mature student in whatever they may become interested in at that time. They can even do it part time and work to fund themselves.
Less pressure on all of you.

Not even that but kids are under pressure to make a huge decision in their lives aged 17 or 18. Give them even 2 more years and the whole picture is quite different. The whole LC system puts teenagers under an insane amount of pressure and many are left feeling stupid when they don't reach their ambitious goals. And at the end of it many find out they made a bad choice.
My partner is still beating himself up over failing maths and he couldn't get into any of his chosen courses because of it. It doesn't matter, there is a lot more out there than university. And graduating with 26 or 27 is still young and you have loads of time.

Wanderer78

LirW wrote:

Not even that but kids are under pressure to make a huge decision in their lives aged 17 or 18. Give them even 2 more years and the whole picture is quite different. The whole LC system puts teenagers under an insane amount of pressure and many are left feeling stupid when they don't reach their ambitious goals. And at the end of it many find out they made a bad choice. My partner is still beating himself up over failing maths and he couldn't get into any of his chosen courses because of it. It doesn't matter, there is a lot more out there than university. And graduating with 26 or 27 is still young and you have loads of time.

The LC is an example of a 'hyper-competative' system, which in fact is highly destructive for society, whereby one of the main aims of the system is to create an exclusive society rather than an inclusive one.

LirW

Germany has a similar system in place, a point race for the popular courses. The thing is though, if you're rich you can sue your way in, if not, you go to Austria and study there. Austrian Universities brought strict quotas of foreign students in because of it. The Austrian universities have no access requirements in the regards of points, popular courses would have entrance exams instead and the best ranking get the limited amount of spaces.
What happens is that there are a lot of German students applying for medicine, psychology etc because they missed out back home as a matter of a single point, yet they are better prepared with all their courses than the Austrian LC student would be, because the system is different.
It's a mess really and it's quite biased.
Comes out especially strong in IT based courses, where many people haven't had the strongest LC but are absolutely rocking their courses.

misstearheus

/notanotherdolebashingthread

Graces7

When I was at university in the 60s in the UK, tuition was free and we were means tested for grants , not to be paid back, for accommodation etc.

But there were very few who qualified for universlty. A degree, especially an academic honours degree, was for the very few. In my year at senior school, and many left at 15, there were five out of I think 60 who went on to university.

Some of my closest friends were heartbroken at not getting in.

A very different system now.

Atoms for Peace

LirW wrote: »

Germany has a similar system in place, a point race for the popular courses. The thing is though, if you're rich you can sue your way in, if not, you go to Austria and study there. Austrian Universities brought strict quotas of foreign students in because of it. The Austrian universities have no access requirements in the regards of points, popular courses would have entrance exams instead and the best ranking get the limited amount of spaces.
What happens is that there are a lot of German students applying for medicine, psychology etc because they missed out back home as a matter of a single point, yet they are better prepared with all their courses than the Austrian LC student would be, because the system is different.
It's a mess really and it's quite biased.
Comes out especially strong in IT based courses, where many people haven't had the strongest LC but are absolutely rocking their courses.

But Germany does have a very good apprenticeship system in place.

Micky___

RunRoryRun wrote: »

You can limit the expense by funding fees only (no rent or entertainment) - they'll need to live at home and choose a college within commuting distance. That's what we did and got part time jobs to pay for lunches, buses and nights out.

Students desired course may be not available in their local college. Mine wasn't, had to go to the other end of the country.

Drifter50

I feel your pain OP, you think that the problems lessen as the kids get older, unfortunately not always the way.

Like some of the other posters say, if you send your kids to a fee paying secondary school it seems to lessen the hit when they go to 3rd level.

The fees this year are €3200 probably going to €3500 in Sept. There is a grant available called SUSI but I think the threshold for the family income in total is somewhere are around €45k but look into it.

Be careful of the books, some of the 3rd level stuff can be up to €60/€70 each. I had 2 overlap in UCD for 1 year, found that very hard bit encourage the part time jobs

Lia_lia

I got a grant (single parent Mother) but that didn’t even pay my rent. Think the grant was about 3K every year. Still though was great to have it. I worked 20+ hours every weekend to pay for everything else. But worked since I was 14 so was well used to paying my own way. Surely they can get jobs now and start saving. I was working before Junior Cert...

Rent is a big chunk of it. Try to encourage them to go to college and stay living at home if possible. Don’t take out a loan for them, they can do that themselves!

CIP4

I am only a couple of years out of college myself and my brother is in his 2nd year of four. My parents saved up and invested our college fund in BOI shares in the boom which didn’t work out great at the time it was a safe place to have it. Well they still have the shares but worth probably 20% of what they put in.

However I was lucky enough to still be able to go funded by my parents. My parents always say the saving grace is that I did my four years graduated and the brother started college then no lap over so same constant cost for 8 years.

I went to college away from home and stayed down reckon the 10k figure a year is about right for a student staying away from home and at that it’s on the lower end of the scale you wouldn’t be going mad at that.

So having two to three kids in college together would be a massive struggle on any kind of average salary. However isn’t the cut of for SUSI grants into the 50s in terms of gross salary. So op check if you are eligible for this and what it would cost.

As mentioned the biggest way to reduce cost is to get children to stay at home and commute to college that would half the costs.

endacl

misstearheus wrote: »

/notanotherdolebashingthread

#thatsnothowyouspellhashtag

Permabear

This post has been deleted.

boege

OP
I have two kids in college and one just graduated after being away from home. The other one attends a local college.

Fees (now called student contribution): €3000
Rent: Most LL's want 9 months rent at €400-500 per month for a room. Utilities on top.
Living: €40/50 per week (this is where the P/T work helps)
Bus/Train/Petrol:??

The figure of €10,000/child per annum is not far out (lowish. I would say) but if they are going to Dublin and you live outside then it could be higher.

You need to carefully look at the student grant schemes as you are right on the border with your current salary. Strangely, if you kicked them out of the home they could be entitled to a lot of supports.

The banks have a low(ish) interest rate student loan scheme whereby only small repayments required while in college but they look for guarantors and will assess the course (i.e. likelihood of good job to repay loan).

My two lads will graduate with loans.