1,600 local students in line for grants increases

Over 1,600 local students are in line to benefit from student maintenance grant increases thanks to Budget 2024.

A number of student friendly measures were introduced in the Budget including: significant increases in student grants, cuts to the student contribution fee for undergraduate students, increased and extended renters’ tax credit and extended public transport fare discounts for young people.

Welcoming the measures Minister Peter Burke said: “This Budget is about putting money into people’s pockets and we know the cost of college is a huge burden for families, especially if they have two children in college.

“My colleague, the Minister for Further and Higher Education Simon Harris has put forward a package of budget measures that will cut the cost of college for families.

“This includes better grants, reduced college fees and an extension of the rent tax credit. This is Fine Gael ensuring the best start for every young person, while ensuring people get to keep their hard-earned money.”

Budget 2024 made a series of changes for students in college.

“The SUSI maintenance grant which is the main support for students attending higher education will increase by €342 in this academic year between January and May.

“This means that over 1600 students are in line for an increase in their student grants which will be welcome news to them and their families.”

“There are also a number of significant reductions in the fee a student pays.

“Eligible undergraduate students will also receive for a second year in a row a €1000 reduction in the student contribution fee.

“On top of this and in recognition of the cost of living, people with a household income of below €100,000 will see their fees halved as they will not only get €1000 off but will also get the €500 student contribution grant from SUSI.

“And if SUSI was paying half your fee, you’ll get another €500 off meaning your fee will be €1,000.

“Parents of students will also be glad to hear that the renter’s tax credit has been increased to €750 next year.

“Not only is the credit being increased but it’s being extended. Indeed, parents who pay for their child’s digs accommodation will be able to apply for the renter’s tax credit retrospectively for the years 2022 and 2023 where both credits were worth €500 each.

“Public transport’ half-price fares are also being extended to people up to their 26th birthday, making the cost of commuting to and from university for instance is much cheaper for our young people.