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DIT publishes 11th annual cost of living guide for students

Posted: 5 July, 2017

DIT has released its annual cost of living guide for students for 2017-18. Each year the guide is designed to help those who will be starting higher education in September.

The guide shows that staying at home is nearly €5,000 cheaper for students and their families. A student living in rented accommodation should budget €11,766 for the college year, while a student living at home will need €6,789.

As expected, rent is the area where prices have increased most significantly this year, and they have now exceeded prices during the boom. Contributing to this is a shortage of rental accommodation, with Daft.ie reporting in 2016 that only 3100 properties are available to rent nationwide - the joint-lowest level ever. On the positive side, there are signs that more supply is coming on stream with the development of purpose-built student accommodation, particularly in Dublin but this is not yet sufficient to slow the increase in rents.

Head of Campus Life in DIT, Dr Brian Gormley said, “We strongly encourage students and their families to look at staying with a host family for the first year. There are a lot of rooms available in this category.  Surveys show that students who stay in “digs” are more satisfied with their living accommodation than students in on-campus accommodation”. DIT currently has over 150 host families with accommodation for first-year students, and have advertised looking for more host families. Any family interested in hosting students should contact studentaccommodation@dit.ie. A person renting a room can earn up to €14,000 in rent before paying tax on the rental income.

Other costs have been very stable in this low-inflation environment, and there has been no increase in the Student Charge which will provide some relief to hard-pressed families. On average 40% of students receive Higher Education grants, and their Student Charge will be paid by SUSI.

The following is a guide to the cost of living for a student in Ireland for 2017/18

Cost of Living for Students living away from home

Monthly (€)

Annual (€)

Rent (National – for Dublin see below)

427*

3843

Utilities

28

252

Food

167

1503

Travel

135**

1215

Books  & Class materials

70***

630

Clothes/Medical

41

369

Mobile

31

279

Social life/Misc

75

675

Student charge

333

3000

Total

1307

11766

 

Cost of living for Students living at home

Monthly (€)

Annual (€)

Contribution to Utilities

28

252

Food

61

549

Travel

135

1215

Books & Class Materials

55

495

Clothes/Medical

41

369

Mobile

31

279

Social Life/Misc

70

630

Student charge

333

3000

Total

754

6789

Sources used to produce the DIT Student Cost of Living Guide included the Daft.ie rental report Q1, 2017, Consumer price index March 2017, HEA Eurostudent V (2013), if referencing the Student Cost of Living Guide please cite DIT Campus Life

* The rent figure is the mean of National City region 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 €508. Rent in Dublin can vary widely from less than €300 per month for a shared room, up to €1600 or more for a one-bedroom unit in Dublin 2. (€508 Figure mean of Dublin region single rent a room cost)  

** The travel cost is taking on the capped student LEAP fare which has remained at €30/week based on average month of 4.5 weeks 

 *** Class materials and equipment cost can vary greatly, particularly for students in Arts, Sciences and Catering. For more detailed information you should contact your programme co-coordinator 

 Students will also find out more information about student finance and budgeting at www.studentfinance.ie  and www.ccpc.ie.

 To get detailed information on rental costs in your search area, the RTB has launched the national rent index more detail can be found at www.rtb.ie