Flying the coop for the first time is a massive stage of life which for many happens as young people progress to third-level education. Although the housing crisis means a bigger proportion of first-year students have been forced to commute to university, for those lucky enough to secure on- or off-campus accommodation, the transition from leaving home for university presents costly challenges that need attention and planning.

New research shows that the price of going to college in Ireland is increasing. Switcher.ie’s latest study reveals that students who are eligible for free tuition could spend in excess of €16,000 a year, an increase of close to €500 on 2025.

Unsurprisingly, the cost of accommodation is a massive proportion of the overall cost. In Dublin, the most expensive area of the country for student accommodation, it is €5,925 or more over the academic year.

There are also big jumps in other bills for those heading to third level for the first time, with the survey recording a 9% rise in utility bills, a 4% increase in groceries and entertainment costs up by 4%.

Create a budget

While it’s not an exciting job, creating a budget and managing your finances is a key part of becoming a student, according to the Money Advice and Budgeting Service (MABS). The organisation has a very useful My Budget tool (mabs.ie) and a spending diary to help you get started.

“There will be costs and expenses that students have never had to think about before, so they need to prioritise their spending to ensure the ‘needs’ such as accommodation, food, bills, books and materials, and travel expenses are all covered before the ‘wants’ which include socialising, takeaways, etc,” Karl Cronin, national spokesperson for MABS, explains. “While budgeting is the challenge, it’s also the solution.”

“When money is limited, students will need to ask themselves is it a need or a want, can I afford it now or do I need to wait? It is important to include socialising in your budget, but the frequency will very much depend on how much money you have left over after all the essentials have been covered,” he advises.

Last year, MABS and ATU launched a Financial Readiness for Life course to foster resilience among students. This free online course offers guidance on budgeting, managing costs, borrowing, and scam awareness. See freecourses.atu.ie.

Supports available

There are some financial supports available for those going to college for the first time. Student Universal Support Ireland (SUSI) is the main grant provider for further or higher education (susi.ie). This payment, which is really helpful to assist with paying for accommodation or living costs, is means tested and eligibility criteria applies.

If you have a disability, a specific learning difficulty or ongoing illness The Disability Access Route to Education (DARE) offers a third-level alternative admissions scheme. In addition to this, there is financial assistance available with some costs through the Fund for Students with Disabilities (FSD). Students are advised to register with the disability or access office in their college as soon as possible so that supports available through the FSD can be accessed. The Higher Education Authority (hea.ie) has guidance on the fund, which can help with learning supports and transport costs.

Some help is also available for a school leaver from a socially disadvantaged background who gets a place in college via the Higher Education Access Route (HEAR) scheme. While it varies from college to college, extra supports like mentoring and extra financial assistance may be available (citizensinformation.ie).

Meanwhile, the Student Assistance Fund provides financial support to full or part-time students who are experiencing financial difficulties while attending college, in addition to the SUSI grant. Bursaries and scholarship schemes are also worth investigation on hea.ie.

Where to get advice

With accommodation scams on the rise, students are being advised to be extremely vigilant when searching for a place to stay for the upcoming college term. It’s recommended that you always check the property on rtb.ie and never hand over money before signing a lease.

The CCPC says potential red flags could be a landlord being unable to show you the premises in person or only contacting you through social media. The organisation advises you to do your research, verify the property exists on maps, don’t pay any money before signing a lease and always pay with a bank or credit card or bank transfer. This is important because if something goes wrong you may be able to get money back.

Doing a weekly shop is a good idea to keep a lid on food costs and stay healthy. Safe Food has a really useful 101 Square Meals Cookbook (safefood.net) which showcases easy-to-prepare, low-budget and delicious recipes to try out during the term. Also keep an eye out for second-hand books for college and don’t forget to check for college discounts in various retailers. Studentbeans.com or myunidays.com has access to hundreds of discounts.

Other practical tips include syncing your personal and academic calendars to stay up to date with your many new deadlines; attend the orientation day to meet others in the same boat and join some clubs to meet new people.

It’s important to remember that university life is there to be enjoyed, and it is essential to seek help as early as possible if you find yourself out of your depth, whatever the problem.

Your local student support office should be your first port of call or students’ union office, which will be able to signpost helpful resources.