In an attempt to keep the wolf from the door, students in the UK are increasingly turning to the older generation to help finance the rising costs of tuition fees and, with the maximum tuition fee now standing at a hefty £9,000, it seems that the bank of gran and grandpa is well and truly open for business.
A recent report published by the ILC-UK has suggested that whilst a mere 3% of grandparents have already made some contribution to university fees, this figure is set to rocket by more than 13% over the following 10 years. Up to 1.7 million grandparents will then expect to contribute towards university fees in some way.
Of course, the truth behind these figures is much more sobering. Many of the over 55’s wanting to help out the next generation of lawyers and lecturers will have to put further pressure on their own retirement funds. In real terms, this can mean a dramatic change in lifestyle for many at the less affluent end of the scale.
However, there are plenty of other ways to help out those aspiring academics without parting with too much hard-earned cash.
Points Mean Prizes
Well, points mean groceries at the very least. For those who regularly shop at the big supermarket chains those points can gradually build up and provide a wonderful (and essentially free) way to ensure those pallid, under-fed faces are getting the nutrition they need.
And whilst we’re on the subject, discount vouchers from places like Voucherbox can go a long way in helping to fill those seemingly endless reading lists. With discounts from stores such as Amazon and Abe Books, even the most cryptic and confusing academic tomes are sure to be found for little money. As an added bonus, Amazon’s Prime service for students is free for 6 months and then half price for the remainder. Also offered is free shipping amongst plenty of other offers.
Other simple ideas include travel cards and bus passes, ensuring the cash strapped student can get about without incurring the wrath (and repeated fines) of the local public transport authority.
And so, as student numbers continue to rise again in the wake of the latest fee hikes, why not get creative with those cash-saving ideas and ensure that grandma’s pockets don’t have to run too deep and those new students get a great start.
My roommates Grandma would always send him food care packages. Those always made his day and helped to break up the canned soup and ramen that we were living off of.