Family expenses are reduced in accordance with the cost of education

  • Family expenses are reduced in accordance with the cost of education
    Independent.t. E.
    Half of the parents to reduce the cost of clothing for the whole family and other products to cope with the massive expense of getting their children into College.
    https://www.independent.ie/business/personal-finance/family-spending-cut-in-bid-to-meet-education-costs-37231530.html
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Half of the parents to reduce the cost of clothing for the whole family and other products to cope with the massive expense of getting their children into College.

A third of families will also be Slash what they spend on food.

Most families expect to get in debt to cover the costs of third-level education.

The average borrowing is expected to be slightly less than 2500 euros per child per year, a new survey from the Irish League of credit unions shows.

He found him twice the cost for students to live away from home.

A large number of students take a job in order to Finance their expenses and many of them are forced to miss lectures to go to work.

Nine out of 10 parents are not helping to Fund the education of their children in conformity with credit unions, but most say they are struggling to cover the costs.

According to some estimates, the cost of bringing the child to College in the amount of up to €15,000 per annum, accommodation, registration fees, travel, books, food and utilities among the big expenses.

Students also struggling with the seven out of 10 find it difficult to support themselves. This is from last year, according to a survey conducted by I-reach insights among 2,300 people.

Students living away from his parents ‘ house to spend about €1,229 a month, compared to €667 for those who live at home.

Parents who help the Foundation assess the education of their children pay €584 per month over the life of the College.

It has grown at an average of €535 monthly installment last year.

The numbers say they pay more than €1000 per month have almost doubled from last year. Nearly four in 10 say their child is getting a grant for College, but most say that the Grant is insufficient.

About half of the parents who Fund their third level education for their children say they will be forced to reduce spending on clothing or items for other children in the family, to cope with the costs.

Nearly one-third donate the cost of food and products, and three quarters will reduce the amount spent on vacation. A quarter say they will reduce the cost of electricity.

Questions money remains a big problem for all parents of College students.

This has greater value since last year, when a third said that Finance was their biggest College-related concerns.

Much smaller numbers say they most worried that their child will not be able to get a job after College, and one in eight mainly concerned with the abuse of alcohol and drugs.

More than half of all parents say they are stressed about paying for accommodation during the period of College.

Research last week showed rents rose to a New record high, with the average price in Dublin is now over 1000 euros, and the cost jumps up to 20pc in some areas.

Six in 10 parents expect to receive in the debt funding of the third level of their child, and they believe that the accrued debt is more than €2400 per child per year.

There is an increase in the total number is approaching moneylenders.

Some 8pc of all parents participating in the surveys say they went to the pawnbroker, compared to 3pc in the last year.

Head of marketing and communications at the Irish League of credit unions Paul Bailey are the parents of their local credit Union provides loans for education at a much more reasonable price.

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