Heading off to college is very exciting. It’s the start of a new chapter filled with opportunities and fun, but let’s be honest, it can come with a heavy financial strain.

Between college fees, accommodation prices and the day-to-day increase in the cost of living, finances is often the biggest worry faced by students in Ireland.

According to research conducted by switcher.ie, student rent prices increased by 4% in 2025, with the average cost of student accomodation sitting at €8,384 per year. This 4% equates to an extra €192 over the course of that year across on-campus and private accommodation.

Surprisingly, it wasn’t the big cities where the sharpest increases were felt by students. Instead, it was the private complexes located in Letterkenny (+€75 per month), Carlow (+€45 per month), Waterford (+€24 per month) and Sligo (+€19 per month), with some areas charging up to €650 extra over the course of one year.

Despite these increases, Letterkenny remains the most affordable town for student accommodation, with rents averaging €453 per month. Other towns offering low-cost accommodation (on average) include:

Students living away from home faced average annual costs of €16,179, representing an increase of €556 compared with 2024 and €1,081 compared with 2023.

This includes their rent, fees, food, education expenses, travel and socialising. It is no surprise that Dublin is the most expensive place for students, costing an average of €1,897 per month.

The research by switcher.ie breaks down these expenses and suggests that students can expect to spend around €401 a month on socialising. Obviously, parents would argue that this is a discretionary spend when students are budgeting for the year ahead.

If you’re looking at these figures with some trepidation, the good news is that there are a number of financial supports available, depending on your situation.

Whether you are a school leaver, mature student or returning to education after time in the workforce, there may be help available to ease the pressure. The most important part is that you know about them and aren’t afraid to ask for help.

Avail of student grants

Student Universal Support Ireland (SUSI) is Ireland’s national awarding authority for further and higher education grants.

The grant is means-tested and divided into maintenance (living expenses) and fee support. Your reckonable income, calculated for grant purposes, must fall under specific thresholds.

Applications are assessed with regard to gross household income from the previous year.

Depending on how far you live from college, you can get up to €4,292, while disadvantaged students can get up to €7,586. If you are unsure about your eligibility, they have an Eligibility Indicator on their website where students can answer a series of questions to get an indication of their eligibility for a student grant. See susi.ie.

Student Assistance Fund

The Student Assistance Fund provides financial support to full or part-time students who are experiencing financial difficulties while attending college.

Students can apply for the Student Assistance Fund to help with either temporary or ongoing financial difficulties. The Student Assistance Fund is designed to provide a source of financial support in addition to a SUSI grant.

If a student is in financial difficulty, they are advised to contact the access or student services office in their college for more information on how to apply for the Student Assistance Fund. Some colleges have a closing date for applications. See hea.ie.

Students with Disabilities

The purpose of the Fund for Students with Disabilities (FSD) is to assist higher education institutions in ensuring students with disabilities have the necessary assistance and equipment to enable full access, participation and completion of their chosen course of study.

The FSD is one of the main funding sources supporting participation by students with disabilities in approved higher education courses in Ireland. It also supports students from Ireland to study on approved courses in other EU countries and in the UK, including Northern Ireland.

Students on an approved course can receive assistance from their college or institute from Post-Leaving Certificate (PLC) to PhD level during any year of study. If you have a disability, this can cover technology and training, assistants/notetakers, learning and transport supports. See hea.ie.

Tax reliefs

If you pay rent, you may qualify for the Rent Tax Credit. The tax credit reduces the income tax you owe by the amount of the credit. You can claim the tax credit for rent payments you made in previous years by filing an income tax return (up to four years). Since 2024, the amount of the credit is 20% of your rent payments in the year, up to a maximum credit of €1,000 for an individual.

There is tax relief on tuition fees but this does apply to the first €3,000 – only on amounts above this (including the Student Contribution Fee). The maximum amount you can apply for is €7,000 per course, per year. Tax relief is given at the standard rate of 20%, and parents should be aware that there is no limit on the number of students for whom you can claim. See revenue.ie.

Scholarships

There are a large amount of bursary and scholarship schemes offered by Government departments, third-level institutions, private organisations, charities or financial institutions, like the credit union. Each provide a lump sum and can be as much as €10,000 a year, depending on the scholarship.

Different scholarships award different capailities and these can include academic perfomance, sporting ability, and language proficiency. Students should look at the Higher Education Authority website for the full list of bursaries and scholarships available.

Keep an eye on your college emails as they will normally identify bursary applications or scholarships during the college year.

As well as the listed supports available, most colleges have a student support centre where you can go to talk through payment options and get guidance on your finances if you are struggling.