One third of students rely on parents to pay college fees and have less than €100 to splash a month
One in three students rely on their parents to pay their college fees, according to new research.
A new study from the Bank of Ireland shows that 36pc of students rely on their parents to contribute towards college fees, which can reach the maximum of €3,000 per year.
While Irish students have an average income of €9.20 a day, or €258 a month, 35pc have less than €100 of disposable income per month.
For half of the students surveyed, living at home rent-free is the most common type of financial support from their parents.
Half of students also share accommodation with three to four other people, while more than two in three have resorted to living at home while in third level education.
Almost a quarter of students who live away from home receive financial help from their parents to pay or rent and 22pc have their parents paying for utility bills like electricity and gas.
A third also bring their laundry home and 28pc clear out the kitchen cupboards before heading back up to college after a weekend at home.
Nineteen per cent, or almost one in five, students have skipped meals to pay for college nights out.
However, a third of students refuse to sacrifice their social life, according to the study.
According to the research, 80pc of students attempt to save money throughout the academic year, with €184 being the average amount saved per month. 34pc of savers put money away for summer travels, a quarter hope to buy a car and 24pc use the savings to pay for college fees.
“From finding affordable accommodation to making time for studies, students in Ireland are working part time and trying to enjoy their social life too," commented Rory Carty, Head of Youth Banking at Bank of Ireland.