The average cost of educating a child to third level can add up to €60,000, according to research published today.
The research, carried out by Bank of Ireland Life and Schooldays.ie, found that it cost €9,855.52 for eight years of primary school education, €12,736.86 for six years of secondary education, and €38,614 for four years of third-level education.
Among the costs, the study estimates that it costs €1,152 for secondary school lunches over the year, €3,467.50 for fees and voluntary contributions during a year of third-level education, and €3,330 for a year's accommodation at third level.
The survey also found that 98 per cent of parents find "back-to-school" time expensive, 89 per cent of parents feel pressured to contribute to the running of the school through sponsored events, and 89 per cent of parents believe that the monthly Children's Allowance of €166 per child is insufficient.
A total of 76 per cent of parents believe that transition year in secondary school is the most expensive second-level year for parents, with 59 per cent saying it should be optional
Regular changes in the schoolbook curriculum also cause a big headache for parents looking to buy second-hand books, with 51 per cent of parents citing schoolbooks as the most unnecessarily expensive part of their children's education.
As a cost-saving measure, 62 per cent of parents agreed their children should wear their school uniform on communion and confirmation days to ease the financial pressure on parents.
Annemarie Wade, managing director of Schooldays.ie, noted that enrolment for extra-curricular activities coincides with peak expense period of back-to-school, putting more financial pressure on parents.
