IRISH LEAGUE OF CREDIT UNIONS LAUNCH RESULTS OF 2016 COST OF THIRD LEVEL EDUCATION STUDY
87% of parents (down from 94% in 2015) supporting their children financially through college, contributing €447 per month per child to cover costs of college
60% of parents will get into debt to fund third level education
Parents getting into debt to the tune of €4,300 in 2016 down from €4,670 in 2015
4% of parents say they will approach a moneylender to cover third level costs
Parents are saving for an average of 8 years for third level costs, saving on average €8,150
73% of parents really struggle to cover the cost of their child’s third level education
62% of family budgets have been adversely affected by the third level registration fee (marginal fall from 64% in 2015)
67% of students are extremely worried about finding suitable accommodation for the academic year
65% of students living at home compared to 62% in 2015, paying average of €376 on average in rent
Students living outside the home spending €1,048 euro per month, those living at home spending €530 per month
68% students work throughout the academic year to fund third level education, working on average 17 hours per week
Source: ILCU, 2016