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DIT Student Cost of living Guide 2015/16

Posted: 10 July, 2015

Each year DIT Campus Life produces a Cost of Living Guide to help students to budget for going to college in September. This year’s guide is now available, providing indicative costs for those living at home and students who will be renting accommodation.

  • Rents returning to 2007 boom levels
  • Travel costs increase dramatically for the second year in row – up 13%
  • Annual Student Charge reaches €3000 this year.

09 July 2015:  Each year DIT Campus Life produces a Cost of Living Guide to help students to budget for going to college in September.  This year’s guide is now available, providing indicative costs for those living at home and students who will be renting accommodation. 

This year’s figures indicate that accommodation and travel costs have gone up and the Student Charge has risen to €3k. (Approximately 40% of students receive Higher Education grants, and their Student Charge will be paid by SUSI.)

Research shows that students are spending less on social life and miscellaneous costs.  DIT Manager of Campus Life, Brian Gormley said “The drop in expenditure on social life can be attributed to a number of reasons.  Firstly, fewer students have part-time work and therefore have less money to spend.  Secondly, drinking patterns have changed and rather than going out, students are buying cheaper alcohol in supermarkets and drinking at home.  There are some positive trends too, as Irish students seem to be drinking less. There has also been a significant drop in the number of students who smoke, which also saves them money.”

DIT Campus Life says students on a tight budget should think about the following advice:

  • ·         Make a realistic budget and stick to it!
  • ·         Look at Digs-style accommodation. This can cut rent costs dramatically and may be cheaper than distance commuting every day. Staying in Digs for first year can give students time to get to know a group of friends to share a house in second year.
  • ·         Last year saw the continued increased demand on the Student Assistance Fund as more students struggled to manage mounting costs. Look at all available funding sources at http://www.studentfinance.ie/ before September and consider these resources when budgeting for next year
  • ·         Consider cycling to college to save money on parking fees or public transport. Most colleges have invested money in secure, covered bike parking areas, with showers for commuters.

 The following is a guide to the cost of living for a student in Ireland for 2015/16 

Cost of Living for Students living away from home

Monthly (€)

Annual (€)

Rent (National – for Dublin see below)

325*

2925

Utilities

34

306

Food

172

1548

Travel

135**

1215

Books  & Class materials

74***

666

Clothes/Medical

43

387

Mobile

32

288

Social life/Misc

74****

666

Student charge

333

3000

Total

1, 222

11,001

 

 

Cost of living for Students living at home

Monthly (€)

Annual (€)

Contribution to Utilities

34

306

Food

63

567

Travel

135

1215

Books & Class Materials

55

495

Clothes/Medical

43

387

Mobile

32

288

Social Life/Misc

71****

639

Student charge

333

3000

Total

766

6897

 

Sources used to produce the DIT Student Cost of Living Guide included the Daft.ie rental report Q4, 2014, Consumer price index March 2015, HEA Eurostudent V (2013), if referencing the Student Cost of Living Guide please cite DIT Campus Life

* The above guide is a national guide. The rent figure is the mean of National City regions single rent-a-room cost.  The average rental figure for students in Dublin is higher at around € 418 (mean of Dublin region single rent a room cost).  Rent in Dublin can vary widely from less than €348 per month for a shared room, up to €1,089 or more for a one bedroom unit in Dublin 2.

** The travel cost takes in the capped student LEAP fare of €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

**** Base Figure taken from Eurostudent V 2013 and adjusted for 2014 CPI inflation.

 Additional information on the Cost of Living Guide can be found on www.dit.ie/life Students will also find out more information on student finance and budgeting at www.studentfinance.ie  and www.consumerhelp.ie . To get detailed information on rental costs in your search area, the PRTB have launched the national rent index more detail can be found at http://www.prtb.ie/landlords/rent-index-dec-2014