Bursary from Uni

[Kiddleywinks]

A current parent is starting uni in September, 3 yr course, and will be claiming a bursary for childcare.
Having never done this before, I was wondering if anyone has any information on how it's done?

I work my fees out Apr - Apr so am currently working out what the fees will be to the end of this financial year (Apr '17)
Will this cause problems as the educational year is different? (I can work it out Sept '16 - Aug '17 if needed)
What things should I have ready to give to parent/uni?
Once everything is submitted, how long does the process take to get paid?
Is it paid weekly/monthly/one lump sum? And who to?

Are there things I should be cautious over?

I hasten to add I've had this particular parent over 18 months and have never had a problem or issue with anything to date, payments have always been punctual, never been late to collect etc, so I'm not worried about them running off with the money (besides I'm already holding a 4 week deposit from when they started of £1000 so do at least have some security at the moment lol)

Parent is coming over in the week to sort things out so would just like to have an idea of things I should be checking over, TIA

[tulip0803]

I had a uni student who was no problem, always paid on time. They asked for an initial estimate of fees per week and at the end of each term I had to fill in a form and state the weekly payment made and the estimate per week for the next term before signing. If it was over/under they adjusted her next lump sum.

Mum was paid the money alongside her grant/loan and she then paid weekly as some weeks she did a bit more than others. As it was a lump sum it could have been paid anyway we were both happy with.
Grants are normally paid on a set day at the beginning of term. I would just say what I say to parents that get Tax credits that they are responsible for paying on time even if their payment from uni is delayed.


They also paid me 1/2 fee for holidays. x

[bunyip]

The experience of CMs being paid by educational establishments covers the entire spectrum from completely reliable to those which will use every trick in the book to pay late or avoid paying at all.

You absolutely must put a clause in the contract stating the parent is ultimately liable for all unpaid fees, and you must give yourself the legal option to withdraw the service if bills go unpaid. Even this will not guarantee you get paid if the uni is difficult and mum has no means of paying. If the worst comes to the worst, you might have to decide when to cut your losses.

[FloraDora]

My thoughts - though I haven't had experience of being funded by uni's.
If the Uni money is being paid to parent and parent is then paying you, weekly or in an advance lump sum I don't see how this differs from normal - the parent is just getting her source of income from a different place . So - contract should be parent pays as normal - you will support with completing relevent forms but after that she has to pay you on time - borrowing money from else where eg parents/ friends/ credit card to pay you on time if there are any issues with the grant coming through to her.
Good luck.

[Kiddleywinks]

Thanks Tulip, that's really helpful
Sounds like it's not dissimilar to getting funding, but with the funds going to the parent instead of provider

Bunyip/Floradora - Thanks to you both, that was my thinking as she currently receives TC, so have already got that side covered in contracts lol, all my parents know THEY are responsible for fees regardless of what they claim from wherever
Usual terms of non/late payment will apply - no pay no play

I was more wondering about the procedures and any additional paperwork side of things, which Tulip answered wonderfully