The hidden cost in getting your children to university
As results day looms, are you prepared for the journey ahead if your child decides to pursue higher education?
The cost of ferrying your children to and from university could add up to more than £4,000 over the course of a three-year degree, equivalent to nearly a fifth of the amount the typical student will spend on tuition fees. A typical university parent makes around 10 return trips during their child’s three years at university with undergraduates generally required to move out of their accommodation halls during the holiday periods.
LOVESPACE took into account the cost of fuel, based on a 400 mile trip each-way (e.g. London to Glasgow, Newcastle to Exeter), the cost of each parent’s time and the cost of staying over before the return trip home.
LOVESPACE conducted this research to better understand how parents of both domestic and international students prepare to transport their children’s belongings to university.
Yidong Pan, a domestic student whose family live in Glasgow, used the service this summer after graduating from King’s College London. He sent his belongings with LOVESPACE back to Glasgow after graduating. In his first year, Yidong’s parents accompanied him to London on public transport, but as his collection of belongings grew, he started using LOVESPACE. This saved the family a 412 mile journey which would have totalled almost 7 hours on the road for a single trip.
LOVESPACE provides a service that allows parents and students to send their belongings ahead and store items locally, freeing up parents from the stress, hassle and cost of moving their children to and from university. The service also works well for international students where parental involvement in moving belongings is limited. On average, students spend around £200 a year with LOVESPACE.
Stella Rice, an international student from Brisbane, Australia who studied at the University of Edinburgh, has used LOVESPACE to store her belongings for the past three years, explaining that storing books were her main concern when scheduling her travelling plans. Stella described the service as a ‘hassle free, cost-effective storage system truly feels as though it was designed with a student’s needs in mind.’
The analysis was based on typical journeys selected from the company’s database.
•Ten return trips from London to Glasgow (roughly 411 miles, 7 hours, 43 minutes) consisting of six single journeys in first year halls and two each in 2nd & 3rd year consisting of beginning and end of year
•Fuel costs £40 each way in the average UK car
•Ten overnight hotel stay for two adults (£90 based on average hotel prices)
•One day’s work pay for two adults £114 per adult (based on average wage)
£800 (fuel) + £900 (ten hotel stays) + national wage (£238 x 10) = £4,080
If you are moving to university or plan on undertaking your master’s degree in another city, call one of our friendly operators on 0800 802 1018 or email us at firstname.lastname@example.org today to find out how we can help!