With third level education costs continuing to spiral in Ireland, the financial pressure of putting a child through college continues to take its toll on household budgets.
A national survey in 2017 found that eight in ten parents said they struggled to cover the costs of their child’s third level education. The study, commissioned by the Irish League of Credit Unions, also found that one third of parents report money concerns to be their biggest third-level-related worry.
For students themselves, financial issues are also a huge concern. The same study found that six in ten reported money issues and debt to be their biggest concern while at college. Two thirds of students said financial worries were negatively impacting their overall college experience, while 66 per cent said they were working through the college year to help make ends meet.
Athenry Credit Union has always been on hand to help both parents and students with meeting the costs of education.
Alan Clarke, Lending Officer from Athenry Credit Union said college is an exciting time for students and parents alike, and Athenry Credit Union understands that it can also be a stressful time.
“It can place a huge financial burden on the household. Indeed the 2017 survey showed that 75 per cent of household budgets have been adversely impacted by college registration fees which can be as high as €3,000.
“We would really encourage any parents and students struggling to cope with third level costs to talk to us here at Athenry Credit Union. Our friendly staff are on hand to assist with budgeting guidance or can chat to you about our great value Education Loan,” he said.
Athenry Credit Union offer loans to brand new members, or those members who might not have interacted with us for years, as well as existing members. For further information please visit www.athenrycu.ie or contact: 091 844306.