Bursary - How much savings is considered too much?

[Loopyloulou]

Well this is all very interesting.

I must say if I were a Bursar I'd be rather more generous than you lot. I'd disregard a few thousand in the bank, and probably a few tens of thousands of equity in a house as well. I don't think it's fair to squeeze the poor until the pips squeak.

But I'm not a Bursar, so I don't know what they do.

[Hector]

I too have some sympathy with the original poster.It's a fair enough question, is there a cut-off level for amount of savings allowed(before a bursary becomes non-available) and if so what is that level?
After all, £7k is quite different from £70k. One wouldn't see you through a year of fees , whilst the other could possibly see your child safely out the other end!

[mike1880]

As far as I remember (I may well be wrong), in Birmingham the KE Foundation used to count 5% of your savings; they don't give a firm number now but just say it will be taken into consideration.

Like anything else in life, it's impossible to come up with rules for this that won't unfairly penalise someone, somewhere. If you count equity in a house you will catch the wealthy who've paid off their mortgages but may well penalise the single parent still living in the family house who can't afford to move anywhere else; if you count savings you will penalise someone who rents but is saving for a deposit, and so on.

For what it's worth, bursaries now apparently go mostly to the middle class children of single parents - while I don't consider them remotely unworthy recipients, I do wonder how the absent parent manages to avoid responsibility in such cases.

Mike

[guest43]

For what it's worth, bursaries now apparently go mostly to the middle class children of single parents - while I don't consider them remotely unworthy recipients, I do wonder how the absent parent manages to avoid responsibility in such cases.

Mike

Perhaps because they are widowed. Oh what fun it is to pontificate from the comfort of a shiny happy nuclear family.

[fairydust2010]

I was under the impresson that each bursary is calculated differently. From what Ihave been "told" by others (that may be incorrect) some bursaries are done purely on income while others want to know what equity you have in your house and what car you drive.

[Sally-Anne]

Hi Guest43

For what it's worth, bursaries now apparently go mostly to the middle class children of single parents - while I don't consider them remotely unworthy recipients, I do wonder how the absent parent manages to avoid responsibility in such cases.

Mike

Perhaps because they are widowed. Oh what fun it is to pontificate from the comfort of a shiny happy nuclear family.

You make a very fair and valid point, but I am sure that Mike was thinking of separated and divorced parents rather than those who have been widowed. I doubt anyone would dispute the need to support a family whose circumstances are reduced because of the death of a parent.

Sally-Anne

[carolscotland]

I consider paying for an independant education for my child a contribution towards my pension scheme. I look after her now and she looks after me in my retirement! It is an investment in their future.

[somewhereinmiddle]

Thanks to everyone for their thoughts and sharing their experiences. I do know this subject may touch a few raw nerve, which I can see why. When I first wrote, I probably have no clue about how many people there are out there after the bursary scheme and now I can see yes, there are people who genuinely need it more than me.

It's wonderful to know there are people who do actually sacrifice and really put their kids' education before everything. The reason why I'm asking is to find out, as Hector said, if there is a cut-off amount in the savings. I don't know if what we have is considered a lot or enough or just average. Also, some schools may be more generous with their bursaries but some aren't.

And its true that I have to think long and hard whether or not we want to go down this road of paying or just try for grammar. I heard of people who are on low income/income support who can earn up to 100% bursary but now I understand that is because they genuinely cannot afford to pay. Its people like me who is stuck in between; neither here nor there who probably will struggle with the fees. But then again, I should have known its a very expensive option.

[Ed's mum]

Don't let any of the advice stop you from enquiring though. I hope you make the right choices for you. There are many people on this forum who have a wealth of knowledge to support you in the process.

[nissi]

somewhereinmiddle

Ideally our education system should provide good quality, free and accessible schooling forevery child, but unfortunately this is not the case.

I'm sure you'll make the right decision for your DS and family

It does seem that it is all of us 'somewhereinmiddles' that seem to have to make the sacrifices, but that's another subject for another forum I guess....