DIT Publishes Student Cost of Living Guide 2013-14

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01 July 2013: DIT Campus Life has released its eighth annual Cost of Living Guide for students, which aims to help those who will be starting higher education in September.

The guide shows that the annual costs for students, both living away from home and living at home, have increased since last year.

The annual cost for a student living away from home is €7,902 (up from €7,803) and the annual cost for a student living at home is €4,176 (up from €4,095).

The guide shows that staying at home is nearly 50% cheaper for students and their families. A student in rented accommodation should budget €7,902 per year, while a student living at home will need just €4,176 - a saving of €3,726.

The most significant cost for students is rent. Currently the national average rent is stable; however, the Dublin rental market is on the rise with a 4.5% increase since last year.

Transport costs have also gone up. The monthly student short hop ticket has seen a €6 increase which, over the course of nine months, is an additional €54. The Student Contribution Charge increases to €2,500 for the 2013/14 academic year.

Tough economic times are having their impact on students’ well-being, 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,” he said. “The My World survey published in 2012 showed that 60% of Irish students reported being stressed by their financial situation. We hope this guide will help students and their families’ budget for the year.”

Some good news!

  • The ‘living costs’ associated with attending college are still less than what they were in 2008, when a student had to budget €8,403, over €500 more than in 2013
  • The cost of renting nationally is stable. However, competition for rental properties, particularly in Dublin, is on the rise – therefore, students should start looking as early as possible. The PRTB has launched a new national guide for rents – more details can be found at www.prtb.ie/landlords/rent-index

The DIT Student Cost of Living Guide featured in articles in the Irish Independent, The Herald and The Star this week.

Additional information on the Cost of Living Guide including tables with breakdowns of costs can be found on http://www.dit.ie/campuslife/studentsupport/costoflivingguide/

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