I am very much aware that the rising cost of living is impacting students, and my Department has ensured that measures to support students have formed a core part of the Government's overall response to cost of living issues.
In respect of Higher Education Costs, for the majority of students, Budget 2023 and Budget 2024 has had the effect of reducing the cost of higher education. For the second year in a row, as a cost of living measure my Department has reduced the student contribution fee by €1,000 for free fees eligible students and increased the postgraduate fee contribution grant by €1000.
For students who are in receipt of a maintenance grant there have been increases to maintenance grants over the past number of budgets. From September 2024 all non-adjacent maintenance rates will increase by €615 and all adjacent maintenance rates by 10% from the September 2023 rates. The Deputy will be aware that this benefit has already commenced effective from January 2024 so maintenance grant recipients have seen their grant payments increase proportionally from that date.
Maintenance grants to eligible postgraduate students will be restored in full effective from September 2024 with eligible students this academic year receiving pro-rata grants.
Effective from September 2024 the income thresholds for the Band 4 maintenance grant and the 100% Student Contribution grant will increase.
The parameters of a pilot part-time grant scheme are currently being finalised and I will announce the details in due course.
In addition the Rent Tax Credit is increasing to €750 per individual and €1,500 per jointly assessed couple for 2024 and 2025. Payments made by parents in respect of “digs” or rent-a-room arrangements for their children to attend an approved course will now qualify for the Rent Tax Credit. This is provided the claimant and their child are not related to the landlord. This change will apply retrospectively for the years 2022 and 2023.
In respect of the Further Education Sector, PLC charges levied across the sector will be removed from next September.
In advance of Budget 2025 this autumn I will be publishing an options paper which will set out various possible measures to reduce the cost of education. I am doing this in order to facilitate public discussion on the various choices available to improve student supports. I will have regard to these options when making proposals in the context of budget discussions.
