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More than four in 10 students receive a living grant from Student Universal Support Ireland (Susi) to help with everyday expenses, but many complain it is not enough.
Many people who do not receive grants face the same costs and may or may not be able to rely on their parents for financial support.
Some students work part-time to supplement their college expenses, but they must be careful not to let the time they spend working interfere with their studies.
Students should be aware that all universities offer financial aid services to respond to hardship situations and those who experience hardship during the year should not hesitate to contact them.
Accommodation will be a major expense for those moving away from home. In addition to this, students may also have to pay utility bills and ensure they have enough money for food, travel, books and class materials, a social life and incidentals. For higher education students who have to pay tuition fees, there are also student grants of up to €3,000.
Every year, TU Dublin publishes a cost of living guide to help students and families prepare for university life. Although it is only a guide, it is very useful in providing a baseline figure for the main expenses.
Budgeting is critical, but if students and their families have some understanding of the expenses they face, they can be better prepared.
According to TU Dublin’s 2024/25 guide, students living away from home can expect to spend €1,600 per month for a nine-month academic year, or €14,402 per year. Rent accounts for the largest portion of this, at an average of €895 per month, followed by food, transport and other expenses.
Rental costs are based on the Dublin average of €260 per week, including utilities, for purpose-built student accommodation. Monthly rent is €1,118. The average monthly rent for a wider range of accommodation options available through the Student Pad service is €672. The national average is likely to be cheaper.
For students living at home, monthly living expenses can be expected to be €596, which includes utilities, food, travel and other expenses, totaling €5,363,91 per year.
TU Dublin also provides a lot of advice on how to make the best possible use of resources.
Public Transportation
Save money by purchasing a Youth Leap Card. The upper limit of fares (19-23 years) will bring huge savings, with a daily cap of €2.80 for travel across the network and a weekly cap of €11.
Weekly Shop
Prepare a shopping list before your weekly shop to keep food costs in check. Find out when local supermarkets have price cuts and plan your shopping around that time – usually after 6pm. When looking for accommodation, check if there is a good fridge so bargains can last longer. Living with other people is often cheaper than shopping on your own. Make sure to ask if there is a student discount – you’d be surprised how many places offer this.
Phone Offers
Shop around for utility and subscription services. Many phone and subscription services offer free trials and half-price contracts, while mobile phone companies offer loyalty offers. It’s important to cancel subscriptions you no longer use, as they can add up.
Laptop and software
Invest in the right equipment and find out what software your university offers for free. In addition, all higher education institutions have access to the HEAnet store, which offers suitable laptops and equipment at affordable prices.
Take good care of yourself
Health and medical costs: All universities offer a range of support, from free student healthcare to subsidised sports and fitness facilities. While there is a nominal fee to use some facilities, many services, such as counselling and GP services, are free. Students should look out for university offers on wellness activities such as yoga, mindfulness and spinning classes.
scholarship
Not everyone will qualify, but it’s always worth investigating to see if you might qualify.
Social Aspects
Join clubs, societies and the Student Union. The university has a thriving student-led organisation that offers friendship, networking, great social outlets and journalism. There are huge discounts on events and activities and students should take advantage of these offers to save money.
Sharing is caring
It’s not easy for everyone, but when you start college, try to make friends. It’s a great way to share resources, and it’s good to have other people to lean on in the early stages.
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