Nan and Grandad are forking out £146 a month to cover our uni expenses
They’re nearly paying as much as our parents
The bank of nan and grandad is funding our way through uni with over three quarters of grandparents handing out cash, according to new figures.
Spending all your parents’ inheritance, grandparents contribute an average £146 every month.
This is nearly as much as mum and dad who cough up a hefty £363, consumer watchdog Which? University have revealed.
The independent watchdog asked 1,500 members about their children or grandchildren preparing for or attending university.
Alex Neill, Which? Director of Campaigns, told The Tab: “It looks like choosing where and what to study is fast becoming a family affair, with not only parents, but now the majority of grandparents providing financial support for university.”
According to the survey half of parents and grandparents wanted to support to help their children or grandchildren avoid debt.
Over a third questioned admitted their children or grandchildren could not afford to go to uni without their support.
The survey also discovered that over three quarters thought the academic experience of their children or grandchildren had been good overall.
First year Southampton Geography student Sophie Louise told The Tab: “I went to a private school where lots of people’s education was being paid for by their grandparents because the grandparents felt it was their ‘duty’ to provide quality education for their grandchildren. I wouldn’t be surprised if this continued at University.”
Which? University also found that the money provided by parents and grandparents goes straight towards our “gadgets, products, travel and accommodation”
Alex from Which? added: “Making decisions on courses, universities and funding can be complex for everyone involved.
“Which? University offers free and independent advice to support students, parents and grandparents through the decision-making maze and make the process of choosing, applying and budgeting for university studies as simple as possible.”
Not content with paying for his education, one 82-year-old grandad actually graduated alongside his grandson and daughter last week – with all three family members getting the same diploma.