Parental contributions to kids' university living costs could reach £14,000 a year

Parents helping kids with university living costs face contributions of up to £14,000 per year, according to a report from HEPI and TechnologyOne.

High university living costs with piggy bank graduation cap and books
(Image credit: Getty Images)

Parents may need to contribute as much as £14,000 a year to help their children with university living costs.  That’s according to a new report from the Higher Education Policy Institute (HEPI) and TechnologyOne.

Under the current UK education system, parents are expected to provide financial support for their children at university. The report found that in order to do this it could cost parents as much as £13,865 in England (£6,482 for Welsh students, £10,232 for Scottish students, and for a Northern Irish student, it is £13,548). This estimate is based on the cost of a “minimum basket of goods and services” and assumes that the student gets a minimum maintenance grant for their living costs. 

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LocationUniversity living costsMaintenance loan coverParental contributionsExpected weekly working hours for a decent standard of living
England (outside London)£8,40555%£13,86519 hours
Wales£6,482 65%£6,48214 hours
Scotland£7,23261%£10,23216 hours
Northern Ireland£10,49644%£13,54823 hours
Oojal Dhanjal
Editorial Content Producer

Oojal has a background in consumer journalism and is interested in helping people make the most of their money.Oojal has an MA in international journalism from Cardiff University, and before joining MoneyWeek, she worked for Look After My Bills, a personal finance website, where she covered guides on household bills and money-saving deals.Her bylines can be found on Newsquest, Voice Wales, DIVA and Sony Music, and she has explored subjects ranging from politics and LGBTQIA+ issues to food and entertainment.Outside of work, Oojal enjoys travelling, going to the movies and learning Spanish with a little green owl.