For those living away from home, the biggest expense will be accommodation. The monthly cost of rent for students differs across the country, but most colleges advise students to budget between €700 and €1,200 depending on their type of accommodation. Private complexes are the most expensive option, whereas houseshares and digs offer a still pricey but less costly alternative. The cost of living study for 2024-25 from TU Dublin suggests that on average, students can expect to fork out a monthly rent of about €792.

Utilities will also swell expenditure for those living away from home. Those still based at home and contributing to monthly bills should budget €40 every month, whereas those who have moved out should put at least €100 aside. The government’s electricity credit scheme is saving bill payers €250 in the 2024-25 academic year, but the next budget will determine if this benefit will continue into 2026.

Another significant expense to factor into a student’s budget is travel. With more and more students opting to commute rather than take the plunge with rented accommodation, travel can form a significant chunk of their monthly expenditure. The Young Adult/Student Leap Card is a great cost-saving measure, with daily and weekly caps in place to keep expenses low for students. For Dublin-bound college-goers availing of the Dart and commuter rail services, there is a daily cap of €13.80 and weekly one of €14.80.

Meanwhile, the bus and Luas both have a daily cap of €2.80 and weekly one of €11. For those using multiple services, there is a daily cap of €4 and weekly one of €16. A general monthly budget of about €50 to €60 is recommended by different colleges with this level of costs in mind, though it will differ according to location and service. It is worth mapping this out as part of a student budget to avail of the most cost-effective route.

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Living at home will also vary a student’s grocery expenses, but those who have moved out should budget around €200 a month for food and toiletries. Food prices have thankfully dropped since last year, offering some relief to young students on minimum wage, part-time work who were put under significant strain when it came to securing relatively basic supplies. Eating in is one of the easiest ways to cut costs all the same, and it is worth getting savvy about grocery shops and meal prep to keep food expenses down.

Such planning will be necessary to make room for socialising in the budget. Whether it is pints, nights out or gigs, student life is full of excitement that can become expensive quickly. The cost of living study for 2024-25 from TU Dublin suggests a monthly budget of €85 for student social life, a ballpark figure that will go up or down according to your interests and priorities.

Other costs to factor in include your phone bill, any medical expenses and clothes. Shop around for a good phone deal but generally expect to pay €15 a month. While one-off expenses are not the most predictable, it is realistic to put about €40 aside each month for these miscellaneous costs.

With the above figures in mind, and including the student contribution fee of €2,000 (reduced by €1,000 in Budget 2025), a year in college will cost students living away from home more than €14,000 and those living at home more than €5,000.

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