Sixth-form began, and the dream died
Two incomes and three sons means couple must sacrifice plan to tour the waterways
Wednesday 13 August 1997
Peter does not consider himself a high earner, though his basic salary is around pounds 35,000. Kate works part-time and contributes about pounds 7,000 a year to the family finances. "We live comfortably, but I do not consider us to be rich," he says. Peter does have a company car and other perks so even when two of the boys are at university at the same time no grant will be forthcoming.
The eldest has completed his first year and Peter estimates that it will cost him around pounds l0,000, assuming nothing else changes, to fund each of his boys through a degree course. The couple have funds on which to draw, though they are miffed that they were not warned of the costs earlier.
"At first I thought it was reasonable to use the Government's maximum grant figure as a basis of my contribution to the living allowance for David, our eldest. In fact I added pounds 200 in the first term for a float in case of emergencies," Peter says. "Thankfully David is sensible with money so we do not have problems of reckless spending. However, it was soon quite apparent that this sum was insufficient. Insuring his possessions, a mid-term return trip home, the purchase of a personal computer and paying his share of the pounds 350 deposit on the house he was to share in the second year were all unplanned extras."
Peter admits the computer was a luxury as David already has access to computers. "However, a great deal of time was being wasted booking sessions and waiting days for the material to be printed. We all want the best for our kids."
David will be taking the full student loan each year, so despite Peter and Kate's five-figure contribution, he will be leaving university with a sizeable debt
Parental contribution 1997/8
residual income Contribution
below pounds 16,450 None
pounds 16,450 pounds 45
pounds 20,000 pounds 318
pounds 25,000 pounds 828
pounds 30,000 pounds 1,372
pounds 38,000 pounds 2,415
pounds 45,000 pounds 3,349
pounds 50,000 pounds 4,015
pounds 55,000 pounds 4,682
pounds 64,470 or more pounds 5,945
Parental contribution at points between the residual income figures is calculated as follows:
* Where residual income is pounds 16,450 or more, but less than pounds 21,030: pounds 45 plus pounds 1 for every complete pounds 13 by which it exceeds pounds 16,450;
* In any case where the residual income is pounds 21,030 or more, but less than pounds 30,915; pounds 397 plus pounds 1 for every complete pounds 9.20 by which it exceeds pounds 21,030.;
* In any case where the residual income is pounds 30,915 or more: pounds 1,471 plus pounds 1 for every complete pounds 7.50 by which it exceeds pounds 30,915.
Maximum basic grants, England and Wales,1997/8
Hall or Lodgings
London pounds 2,160
Elsewhere pounds 1,755
Any location pounds 1,435
Hall or Lodgings
London pounds 2,085
Elsewhere pounds 1,685
Any location pounds 1,290
Loans for the final year of study are about 25 per cent less than these figures. For a copy of the Department for Education and Employment's `A Brief Guide for Higher Education Students' 1997/98, telephone 0171-510 0150.
Independent Partners; request a free guide on NISAs from Hargreaves Lansdown
- 1 Exclusive: Abusers using spyware apps to monitor partners reaches 'epidemic proportions'
- 2 Margaret Thatcher 'expressed fears of Asian rising' at Anglo-Irish summit in 1984
- 3 Sussex couple die in suspected Christmas Day 'suicide pact'
- 4 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 5 The Unluckiest People of the Year 2014 (and one very unlucky giraffe)
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Immigrants make UK racist, says Ukip councillor Trevor Shonk
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...
Day In a Page
This five-bedroom red-brick beauty overlooks the village green and sits in just under two acres of land
A three-bedroom villa with self-contained flat, minutes from Lake Windermere
A deceptively spacious, beautifully presented Georgian home with 3000sq ft of living space and five reception rooms
A five-bedroom Victorian home with four receptions, superb gardens and paddock in Pembury
An eight-bedroom house on the south side of the The Green with cinema, wine cellars and summer house
This 17th century beauty is full of rustic cosiness, while the detached home office means you can also run a business
Four exclusive apartments in a Grade II-listed former medical school with 2,275 sq ft of living space and 18ft ceilings
A five-bedroom terraced house on the popular Peterborough Estate, ideally located for both Eel Brook Common and South Park
A state-of-the-art farm-building conversion on the former Cliveden Estate, with 11,420sq ft of internal space, cinema and wine cellar
A three-bedroom, 15th-century cottage with original features in the picturesque village of Sissinghurst
A six-bedroom terraced house with large south-facing roof terrace, cinema room and wine cellar
A new seven-bedroom home built in Queen Anne-style with swimming pool and parkland views in Mortimer
A listed, four-bedroom farmhouse in the rural hamlet of Rushall with detached barn, four acres of gardens and paddocks
A first-floor flat with two bedrooms, a spacious reception room and communal grounds in a leafy part of London
A three-bedroom flat with a spacious rootop terrace and balcony, accessed from a private gated courtyard
A Grade II-listed pile with six bedrooms, stables and 39 acres of grounds in Standlake
A two-bedroom flat with boutique hotel-style interiors, close to the foodie haunt of West End Lane
A two-bedroom flat in a beautiful old vicarage, with many original features, close to the city centre
A three-bedroom 16th-century home with an aga kitchen, private gardens and heated outdoor pool, in Hadleigh
A three-bedrom home in sought-after Queen's Gate Mews, with Italian marble-finished bathrooms
Surrounded by glorious countryside in the village of Udimore, sits this impressive four-kiln oast and barn conversion
A five-bedroom house in the picturesque village of Kettlewell, north Yorkshire
An 18th-century former coaching inn with original staircase, open fireplaces and beams throughout
A Grade II-listed Georgian town house with three bedrooms and a south-facing courtyard, near Arundel Castle
Feel on top of the world at this über chic penthouse on the 37th floor of one of Europe’s tallest blocks.
A Grade II-listed Victorian villa with six bedrooms and two further cottages, all with spectacular sea views
A grade II-listed, Georgian cottage with mature 50ft garden, perfect for summer entertaining
A magnificent Georgian pile with turrets, seven bedrooms, a heated pool and four acres of gardens
Fairoak Farm has five bedroom suites, gym, outdoor swimming pool and golf course
Chic two-bedroom river-fronted flat with a private lift that delivers you directly to your home
A spectacular seven-bedroom Tudor pile, once owned by Henry VIII, with 18 acres of land
A seven-bedroom Georgian property previously used as a picturesque wedding venue
A split-level flat in a church conversion with two en suite bedrooms and 1,200sq ft of living space
A three-bedroom bungalow situated behind an impressive stone wall, £645,000
Windsor Castle overlooks this three-bedroom Victorian cottage located on one of Windsor's smartest roads
Chapel House is a former vicarage with nine bedrooms in the beautiful Upper Wye Valley
A five-bedroom B&B and separate owner's accomodation with potential for conversion
Enjoy summer by the Thames in this two double-bedroom converted warehouse in Rotherhithe village
A one-bedroom, luxury apartment with private gym and concierge service in Moorgate
A four-bedroom house in Hermitage Gardens with three reception rooms and landscaped gardens