DIT Student Cost of Living Guide 2012/13

Student charge to increase by 12.5% – Rent and other costs largely stable.

16 July, 2012: With the Leaving Results due out next month. DIT Campus Life has released their seventh annual Cost of Living Guide for students, which aims to help those who will be starting higher education in September.

homepageCostofLiving2012.jpg

The guide shows that staying at home is over €3700 cheaper for students and their families. A student living in rented accommodation should budget €7803, while a student living at home will need just over €4095. Tough economic times are having their impact on student’s incomes, according to Brian Gormley from DIT Campus Life, “Fewer students are able to get part-time work, and many families are struggling to support their children who are in college.  The Eurostudent IV survey published this year showed that 2 out of 5 Irish students feel that they don’t have enough money to cover their monthly expenses.”

A recent report from the Central Statistics Office also showed that the cost of education in Ireland had increased by nearly 10% over the past year.  This is mainly down to the increase in the Student Charge, which is due to increase again next year to €2250.

There is some good news however, as the other living costs for students are mainly static.   

  • The cost of renting is stable, and as rent is still the single biggest cost for students living away from home, this is good news.
  • Competition for rental properties is on the rise, so students should start looking as early as possible!
  • Travel is another major cost for students that has seen a significant increase of over 6% compared to this time last year.
  • On a positive note the ‘living costs’ associated with attending college are still less than they were in 2008, when a student had to budget €8403, nearly 8% more than in 2012.

Additional information on the Cost of Living Guide can be found on www.dit.ie/life . Students will also find links on the site about student finances, which will help them budget for the year.

The following is a guide to the cost of living for a student in Ireland for 2012/13*

Cost of Living for Students living away from home

Monthly (€)

Annual (€)

Rent (National – for Dublin see below)

287**

2583

Utilities

32

288

Food

172

1548

Travel

102

918

Books & materials

71

639

Clothes/Medical

43

387

Mobile

32

288

Social Life/Misc

128

1152

Total

867

7803

 

Cost of living for Students living at home

Monthly (€)

Annual (€)

Contribution to Utilities

32

288

Food

65

585

Travel

102

918

Books & materials

53

477

Clothes/Medical

43

387

Mobile

32

288

Social Life/Misc

128

1152

Total

455

4095

* Sources used to produce the DIT Student Cost of Living Guide include the Daft.ie rental report Q2, 2011; Consumer Price Index (April 2011); ESRI Quarterly Economic Commentary, Winter 2011/Spring 2012; HEA Eurostudent IV (2009/10). If referencing the Student Cost of Living Guide please cite DIT Campus Life.

** Figure for accommodation is a mean of the National City regions “single rent a room” cost.  The above guide is a national guide, and the average rental figure for students in Dublin is higher at around €332.50. Rent in Dublin can vary widely from less than €300 per month for a shared room, up to €750 or more for a one bedroom unit.

*** The Student Contribution charge is not included in the tables above or the total Student expenditure figure. In 2012 the Cost of SCC will be €2250 or €250 per month over the course of the academic year. This cost is quickly matching the average rental cost for students.

For DIT’s Cost of Living Guide 2011/12 see http://www.dit.ie/campuslife/studentsupport/costoflivingguide/

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