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How parents can help

How parents can helpIt's a good idea to discuss money management with your son or daughter before they come to University and help them prepare a budget plan.

Explain the importance of prioritising payments. They'll need to set money aside for their rent before buying extras such as clothes or mobile phone top-ups, for example.

Even if your son or daughter is receiving student finance, you might still choose to give them some extra financial help. Remember to agree the amount and times of payment in advance to avoid any misunderstandings later on. This will also help them budget more effectively.

Top tips

If you want to help your son or daughter financially:

  • give him or her a monthly allowance rather than a lump sum;
  • pay bills direct – give rent straight to their landlord, for example;
  • ensure payment time and method suits you;
  • help with essentials, such as course costs and food, rather than luxuries;
  • avoid giving cash or making crisis payments;
  • avoid reducing or withholding money to control your son or daughter's lifestyle – this could lead them to hide a problem rather than ask for help; and
  • finally, don't feel pressurised to provide more than you can afford or have agreed.

Legal advice

Remember that our agreement is with your son or daughter, not you. Under the Data Protection Act, we can't give any third party, including parents and guardians, information about a student. This also means that we won't inform you if your son or daughter gets into any financial difficulties.

Contact us

Student Life Centre: Money advisers
Tel: +44 (0)20 8417 7312

Contact us

Student Life Centre: Money advisers
Tel: +44 (0)20 8417 7312

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