Managing your Family’s Finances
Third Level Education can cost a lot. Above all, planning a realistic budget for your young persons ‘college experience’ is important. You may be torn between wanting to do the best for your young person, and supporting other family and household finances. Speaking to friends, family and professionals can be helpful.
Many Third Level institutions charge registration fees which all students must pay. These student contributions cover many student services and the cost of examinations. For instance, in 2019/2020 student contributions were set to €3,000 across most colleges and universities.
In addition to student contributions, private colleges charge larger amounts of tuition fees. You will need to research these fees if you are looking at a private third level institute.
Cost of living
If your young person will be living away from home, on-campus accommodation, student villages or halls of residence are sometimes a good choice for 1st year students. These types of accommodation offer a comfortable bridge between home and independent living.
Once fees and accommodation are paid for, you will then need to budget for weekly living expenses and academic costs (books, laptop, course related travel & field trips). Opportunities might also arise for Erasmus years or an internship abroad. In other words, expect a few unexpected expenses along the way. Again, talking through the finances with others is helpful in working out a realistic budget.
For more information on student grants and to check your eligibility, please click here.