All student grant-holders will get an extra student grant payment on December 16th.
Simon Harris, the Minister for Higher Education, has confirmed the date for the measure announced in Budget 2023.
For some students, this will mean almost €680 extra before the end of the year.
Over 160,000 students will also get a €1,000 fee reduction.
This is a once-off measure and will reduce the amount payable by free fees-eligible students to their institution from €3,000 to €2,000 in the academic year 2022/23.
Students who paid their 2022/23 student contribution in full will receive a refund from their college with each HEI to begin contacting students this week to seek the necessary account details to process a refund.
Mr Harris said: “If you have not paid your fee, it will be knocked off your bill and if you have, your college will be in touch to ensure you get your money back.
“These are practical measures to help students and families with the cost of education and the cost-of-living more generally.”
Last week, thousands of third-level students across the country staged a mass walk-out to protest against various issues facing students, including the on-going accommodation crisis.
Some criticised the Government, argued that ministers had not gone far enough to support students in Budget 2023.
President of the Union of Students in Ireland (USI), Beth O'Reilly told Newstalk Breakfast: "We do feel like we are a cohort that has been left behind in a lot of the discussions on the accommodation crisis.
"One of the biggest impacts in terms of finances on students is the cost of college.
"It's €3,000 fees, which we do have a once-off reduction in this year, but it is only for a certain cohort of students.
"It is only for students who avail of the Free Fees Scheme... international students won't receive a reduction, post-graduate students won't receive the €1,000 reduction."