Students spending €6,000 a year - survey
Third-level students spend over €6,000 each year on accommodation and living expenses, a survey today said.
But four out of every five college-goers get cash from their parents to make ends meet while two-thirds have part-time jobs.
The Ulster Bank survey also found that students in Dublin are almost five times more likely to take out a loan compared to those studying outside the capital.
The research was compiled from 350 face to face interviews with students in five colleges around the country.
“This survey gives us an insight into the cost of living for third level students in different colleges around Ireland, and shows that Irish students are acutely conscious of how they earn and use their limited resources,” said Ulster Bank’s Student Manager, Claire Caulfield.
The survey also found:
:: Students’ average weekly spend is €151
:: The cost of living in Dublin is higher, €153, than outside Dublin, €149
:: Accommodation accounts for 25% of overall spend, costing an average of €1,510 per academic year
:: 68% of third level students planned to remain in Ireland and work for the summer, while 28% planned to travel abroad and work
:: 86% plan to save money during the summer to live off during the next academic year
:: 97% of students have a current account, 41% hold a savings/deposit account and 19% have a loan
:: Students in Dublin are almost five times more likely to have a loan with a financial institution than those studying outside Dublin
:: 90% of students know broadly how much is in their account at any one time.
