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Dublin: -1 °C Sunday 18 March, 2018

Students could save almost €4k if they stay at home with mum and dad

The DIT Cost of Living Guide says student living costs are over €8,000.

THE NEW COST of living guide by Dublin Institute of Technology finds that students could save up to €3,893 if they lived at home while attending college.

The most significant issue identified this year for students is the increase in rents, particularly in Dublin, which is primarily due to a shortage of suitable student accommodation.

Save money 

A student in rented accommodation should budget €10,976, while a student living at home will need just €7,083 – a saving of €3,893, finds the report.

Brian Gormley, the Manager of Campus Life in DIT said, “We are urging students to book their accommodation for the coming year as soon as possible. Due to the shortage in accommodation, many students are commuting longer distances, and the increase in transport costs has not helped”.

The guide also finds that for the first time since 2008 living costs associated with attending college have breached €8,000.

DIT have compiled a comparison of costs between students who live at home and those that are renting:

cost one Source: DIT Student Cost of Living Guide

cost two Source: DIT Student Cost of Living Guide

* (The rent figure is the mean of National City regions single rent a room cost.  The above guide is a national guide, and the average rental figure for students in Dublin is higher at around €372. Rent in Dublin can vary widely from less than €302 per month for a shared room, up to €1,013 or more for a one bedroom unit in Dublin 2. (€372 Figure mean of Dublin region single rent a room cost)

** Class materials and equipment cost can vary greatly

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Are you a student? Are you planning on staying at home while attending college this year? 

Poll Results:

Poll: How old is too old to still live with your parents?>

Read: 9 people who know the pain of having no middle name>

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