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University has never been more expensive. A 2025 report from the Higher Education Policy Institute found that students need £61,000 to have a minimum socially acceptable standard of living over a three-year degree.

But even the maximum annual Maintenance Loan available to students from the lowest income households would only cover half this. So who's expected to plug the gap: the students or their parents?

Join our host, Philippa Lamb, and our expert panel as they discuss the financial realities new students are facing and how parents can support their children through university.

• Communications Director at Save the Student, Tom Allingham;
• Founder of Pennies to Pounds, Kia Commodore; and
• Engineering Manager at PensionBee, Stewart Twynham.

Episode Breakdown:

04:10 What are Tuition and Maintenance Loans?

07:11 How families can navigate university costs

10:54 The impact of household income

15:18 Is university good value for money?

18:15 Price of a pint across the UK

20:28 Can students supplement costs with part-time jobs?

22:00 Should parents pay for their kids to go to university?

23:51 Financial health check for parents

28:04 How can student finance be improved?

Further reading, listening and watching:

To learn more about supporting students at university, check out these articles, podcasts and videos from PensionBee:

• Episode 42 transcript (Blog)
• E41: How can multi-generational living save you money? (Podcast)
• E28: The Bank of Mum and Dad - what's the impact on your pension? (Podcast)
• 5 tips for parents paying for university (Blog)
• Building your family's financial resilience (Video)
• Is it better to pay off your student loan or top up your pension? (Blog)
• Retirement planning in your 50s (Article)
• Should you pay off your child's student loan? (Blog)
• Starting a pension at 50 (Blog)

Other useful resources:

• Changes to tuition fees: 2025 to 2026 academic year (GOV.UK)
• Mapped: The price of a pint across the UK (The Independent)
• Parents' guide to university 2025 (Save the Student)
• Student finance for undergraduates (GOV.UK)
• Student living costs in the UK 2025 (Save the Student)
• Student Money Survey 2024 Results (Save the Student)
• The impact of undergraduate degrees on lifetime earnings (IFS)
• The UK Pension Landscape (PensionBee)

Catch up on the latest news, read our transcripts or watch on YouTube:

• The Pension Confident Podcast
• The Pension Confident Podcast on YouTube

Follow PensionBee (@PensionBee) on TikTok, YouTube, Instagram, LinkedIn, Facebook, X and Threads.

Follow Save The Student (@SaveTheStudent) on TikTok, YouTube, Instagram, LinkedIn, Facebook and X.

Follow the Pennies To Pounds (@penniestopound) on TikTok, YouTube, Instagram, LinkedIn, Facebook and X.