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How to help your child afford the cost of university

Teaching your children how to manage their money can help prepare them for university life.

But how much does university actually cost?

We've broken down the costs, and the funding options available, below.

What is the cost of university in the UK?

For UK citizens, the government decides how much university courses cost. This is what's known as "tuition fees" and it's simply the cost of the education your child will receive.

The table below shows the current maximum cost of tuition fees per year, for a three-year course and for a four-year course in the four UK countries.

Maximum cost of tuition fees 2025/26

	Tuition fees per year	Total tuition fees for three year course	Total tuition fees for four year course
England	£9,535	£28,605	£38,140
Wales	£9,535	£28,605	£38,140
Northern Ireland	£4,855 for N. Ireland students (£9,535 for students from elsewhere in the UK)	£14,565 for N. Ireland students (£28,605 for students from elsewhere in the UK)	£19,420 for N. Ireland students (£38,140 for students from elsewhere in the UK)
Scotland	Free for Scottish students (£9,535 for students from elsewhere in the UK)	£0 for Scottish students (£28,605 for students from elsewhere in the UK)	£0 for Scottish students (£38,140 for students from elsewhere in the UK)

Fees for international students (students who aren't UK citizens or permanent residents in the UK) are set by the universities themselves and these tend to be much higher.

What other costs should you consider?

Of course, this isn't the only cost your child will need to pay. If they live away from home, they'll need to pay for accommodation and food. Even if they plan to live with you, they'll still need to think about how they'll pay for things like transport to their course and their social life.

When working out how much money your child is going to need, it's a good idea to look at what they're likely to spend on:

Tuition fees
Accommodation
Bills (these are often including in accommodation fees if your child moves into Halls of Residence but it's worth checking)
Food
Travel
Phone bill
Clothes
Social life

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How do you pay for university?

Student loans

Student loans don’t work in the same way as normal loans do, which can lead to some misunderstanding.

As well as borrowing money for tuition fees (up to £9,535), students can also apply for their loan to cover their "maintenance", which is things like accommodation and food.

If they're living away from home, they can borrow up to £10,544 a year (or £13,762 a year if they're in London) on top of the cost of tuition fees, but the exact amount is "means tested". This means it depends on how much money your household has.

The tuition fee part of the loan is paid directly to the university, and the student is sent the maintenance part at the start of each term. So there are three payments a year.

You can apply for student finance through the UK government website.

How do students pay back student loans?

Graduates only start repaying this loan once they're earning over the threshold amount for the repayment plan they're on.

Once they reach this level, a percentage of everything they earn above the threshold will go to the student loans company.

You can find out more about repayment plans and loan repayments on the government website.

Scholarships and bursaries

This is money given to students that they won't ever need to pay back.

The key difference is that scholarships are competitive. There are only a limited number available, so even if your child meets the criteria, someone else might be seen as being more worthy of the scholarship.

Scholarships can be awarded for academic excellence, being good at music or sport, and for personal circumstances that mean a person needs extra financial help.

Bursaries tend to be means-tested and available to everyone who meets the criteria. There are also bursaries available for certain courses, such as NHS bursaries for student nurses, dentists and medical students.

There are plenty of scholarships and bursaries available for university students in need of extra cash, so it's worth taking the time to search for them. Many aren't well-known so don't get many applicants, meaning your child's chances of being successful are higher.

You can search for scholarships on The Scholarship Hub. It's also worth checking the website of the university your child plans to attend. They often have their own scholarship schemes and will be able to advise on which bursaries your child might be able to apply for.

Universities also have hardship funds which they give to students who are struggling financially. Your child will need to speak to the student services department at their university to find out more about these funds.

Part-time work

Many students take on part-time work in places like bars, cafes and shops to help pay for life while they're at university.

This can really help students learn to budget as they're far more likely to value money if they've worked hard to earn it. But it can be difficult to juggle working with the demands of their course, spending time with their new friends and, of course, sleeping.

Child Trust Fund or Junior ISA

If your child was born between 1 September 2002 and 2 January 2011 then it's likely they were given a Child Trust Fund by the government. Use our Child Trust Fund tracer to find out if they have some money waiting for them.

If they're not yet 16, there's still time to open a Junior ISA for your child to build a pot of money to help them at university.

Start putting money away for your child's future with our Junior ISA

Open a OneFamily Junior ISA

Ways to cut costs at university

Talking to your child about higher education is exciting, but it can be stressful as well. When it comes to saving money, there's lots they can do to make their money go further.

Find the best bank account

Once your child turns 18 they'll be able to open a student bank account, as long as they're still in full-time education.

Banks want to make your child a lifelong customer. So they'll offer really helpful rewards to try to persuade them to open a student account. This includes railcards, vouchers and overdrafts with lower interest rates.

Deals are changing all the time so it's worth shopping around to find an account that will really help your child.

Buy the basics

The reality for many students is that even with a loan and a part-time job, just getting by is a struggle. Often, a little help from their parents is the only way.

However, with the cost of everyday living expenses (as well as the lure of student nightlife in a big city), a cash injection can often just get lost.

Because of this, many parents prefer buying specific items to help their children out.

These include books or vouchers for bookshops, food parcels and ingredients, toiletries and washing powder (perhaps a bit optimistic) and that all important train ticket home.

Will it be enough?

Unfortunately, many students agree that their student loan is not enough. In some cases, a maintenance loan isn’t enough to cover rent, let alone pay for other necessities.

This leads to a worry that bright, capable young students will not achieve their potential whilst at university.

Perhaps this is the reason that the number of applicants to higher education has fallen in recent years. Should we be worried? Not necessarily - but it's important to understand the costs and to be prepared.

OneFamily's Junior ISA

With our stocks and shares Junior ISA you can start putting money away for your child's future from just £10 per month - up to a maximum of £9,000 each year. Anyone can pay in, and the child will gain access to the account once they are 18 years old.

Open a OneFamily Junior ISA

Our Junior ISA invests in stocks and shares. This means it has good potential to grow, but the value of your investments could go up as well as down, and your child could get back less money than you’ve put in.

A woman wearing her graduation gown and cap, blowing glitter towards the camera.