Following on from improvements made to the Student Grant Scheme in Budget 2023, a range of further measures were announced to enhance the scheme and other supports as part of Budget 2024.
The once off cost-of-living measures benefiting students in the 2023/24 academic year will include:
• A €1,000 reduction in the student contribution fee for higher education students eligible for the free fees initiative. When taken together with the new €500 student contribution grant the student contribution fee will be halved to €1,500 for eligible families with a household income of between €62,000 and €100,000
• An increase to the Postgraduate Fee Contribution Grant from €4,000 to €5,000
• A once-off reduction of 33 per cent in the contribution fee for apprentices in higher education
• Renters’ tax credit is being extended to parents who pay for student children’s rent in the case of Rent a Room accommodation or “digs”. This change will also apply retrospectively for the years 2022 and 2023.
Budget 2024 also provides for:
• The removal of Post Leaving Cert (PLC) fees from September 2024
• An increase to all non-adjacent maintenance rates by €615 and adjacent maintenance rates by 10% from September 2024. Eligible PLC and undergraduate students will see a pro-rata increase effective from January 2024
• The full restoration of student maintenance grants for post graduates from September 2024 for the first time since the financial crash. A pro-rata increase will also be effective from January 2024
From September 2024, student contribution fees will be abolished for all incomes under €55,924.
For the first time ever and as part of the tertiary education package for Budget 2024, a part-time fee grant pilot scheme will be introduced for September 2024 providing support for eligible students who are undertaking specified undergraduate part-time programmes leading to a major award, both in-person, blended and online.
This Scheme will mean fees for these courses will be abolished for eligible students whose household earnings are also less than €55,924 with the support and added flexibility benefiting low-income families.
In terms of other supports available, students in third-level institutions experiencing exceptional financial need can apply for support under the Student Assistance Fund (SAF). This Fund assists students, in a sensitive and compassionate manner, who might otherwise be unable to continue their third level studies due to their financial circumstances.
As part of Budget 2024 a further €8.1 million investment in the Student Assistance Fund for the 2023/24 academic year brings the total to over €17 million. The SAF is available to assist students who are unable to meet costs associated with day-to-day participation in higher education, including: books and class materials, rent lighting, food, essential travel and childcare. The SAF is open to both full and part-time registered students on courses of not less than one year's duration leading to an undergraduate or postgraduate qualification. Further details of the fund is available from the Access Office in the higher education institution attended. Further information on the SAF is available at www.studentfinance.ie.
In addition, tax relief at the standard rate of tax may also be available in respect of tuition fees paid for approved courses at approved colleges of higher education. Further information on this tax relief is available from a student's local Tax Office or from the Revenue Commissioners website, www.revenue.ie.