“No one should be put off higher education because of worries about student debt”

All English students going to university or college will have to pay an annual ‘tuition fee’ towards the cost of their course. This can be up to £3,145 a year.

As a parent, it is important to understand that there is no need to stump up your own money upfront. Your child can borrow the money for tuition fees when they go to university and won’t have to repay it until they leave and are earning enough.

MARTIN'S LETTER
For many parents, the elation of sending your son or daughter to university is often swiftly followed by concerns about how to fund their time studying and help them avoid student debt. I feel very passionately that no-one in England should be put off studying because of worries about student debt or finding the money to go to university or college.

Tuition fees are a reality and they do have to be paid. This means that ‘student debt’, in most cases, is an unavoidable fact. But if it is managed correctly, student debt is what I call ‘good debt’ and very different from our usual dealings with commercial debt. Rather than repeatedly telling students to avoid debt, we should be educating them on how best to manage their money and avoid getting into bad debt!

There is financial support available to help take your child through to their graduation day and I hope this guide will help you realise that there’s no need for you or your children to be scared or discouraged from going on to study at university or college.

This booklet will explain what you and your child need to know about funding university, from the student support package, through to student bank accounts, credit cards and part-time jobs. We’ve also included tips on how you can help your child prepare before they go, so you can talk money with them.

Martin Lewis
Creator of Moneysavingexpert.com

Download Talking Money: A Parent's Guide to Student Finance in England

PDF format, 1MB, 11Pages.

CONTENTS
Martin’s letter 3
The Student Finance package explained 4-5
Back to basics 6
Budgeting 7-8
To work or not to work 9
Letters page 10
Contact information 11

MoneySavingExpert.com is dedicated to saving you money on anything & everything by finding the best deals and beating the system. It's based on detailed journalistic research, cutting edge tools and has one of the UK's largest web communities.

Created, and still 100% owned, by Martin Lewis in Feb 03 for just £100, its ethical stance and Consumer Revenge approach have made it the UK's official no. 1 money site with nearly 8 million unique users a month.

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