After months of study and revision, students across the country received their CAO offers this week. Brimming with excitement, energy and enthusiasm these students are ready to take on their next great journey.
The only issue is that they are going to third level at a time of record fees and rental prices.
While annual college fees have been at €3,000 for many years now, it should be noted that this is the highest they have ever been in Ireland and are the second highest in the EU after the UK. On top of this, universities have taken the summer months as an opportunity to hike accommodation prices. The most expensive place for student accommodation is Dublin where top prices range from €8,000 at Trinity to €11,000 at UCD!
The private student accommodation scene is even more disheartening, with most places costing students around €200 per week. These private centres are considered luxury apartments with some including bowling alleys and cinemas as facilities!
Those who can’t secure either of these options are forced to compete with working professionals and families to get suitable accommodation at a price they can afford. This can result in students living in uncomfortable situations or with a long commute.
The conversation needs to be started on suitable living accommodation for students across Ireland, especially in Dublin where universities are buckling under the strain. The rising cost of third level education in Ireland is forcing students to look at options to study abroad in places across Europe and at worst, it is denying students the chance to study at all.
Despite the doom and gloom, there are so many positives for students entering college for the first time. They have the opportunity to shape their future in a field they find genuinely interesting. Dublin is a brilliant place to work with a great variety of businesses across different sectors from tech, finance, business etc.
How We Can Help
In the meantime, there are ways to alleviate your financial stress while you study. Capital Credit Union provide 20 x €1,500 student scholarships every year, this is open to anyone who lives or studies within their catchment area. So even if you are from Cork but study in UCD you can enter the scholarship for free!
There is also a great student loan rate of 6.5% with the capacity to repay the loan early without penalty, so you can pay back faster over the summer if you have a summer job! For example, a €3,000 loan with Capital Credit Union will cost you just over €106 in credit! If you want to get more information on taking a loan out with Capital Credit Union or apply for our scholarship click on the link here: https://capitalcu.ie/loan-types/student-loan/
Everyone at Capital Credit Union would like to wish all the students going to third-level the very best of luck and to contact us if they think we can be of help. Keep an eye out for us on our affiliated campuses University College Dublin, Trinity College Dublin, Griffith College and Dublin Business School!