Forget about the
Olympics – the big news item this week is the CAO offers …
Have you a child starting school next week or returning to
Primary education?
Everyone wants to give their children a good start in life,
and in today’s competitive environment, a degree or professional qualification
can be the key to a rewarding career.
Now is the time to start planning for their 3rd
level education.
But don’t delay! You should start building this educational
fund as soon as possible. This will spread the cost over the longest possible
period – and give you the maximum opportunity to benefit from potential
investment growth. These factors will reduce the amount you need to set aside
each year – and might make it more affordable.
There are three main ways in which you can pre-fund the cost
of education – and the most appropriate one for you will depend on your
personal circumstances, and how soon the fees will be required:
· • A capital sum can be invested now
· • Regular savings can be set aside out of income
and invested
· • A combination of a capital sum and regular
savings can be arranged.
The monthly costs incurred by the average student in
2015/2016 were estimated to be:
Cost
of living at home
|
Cost
of living away from home
|
||
Rent
|
N/A
|
€372
|
*
|
Utilities
|
€33
|
€33
|
|
Parental Subsidy
|
N/A
|
€168
|
|
Student Contribution Charge
|
€306
|
€306
|
|
Subsistence - Food & Travel
|
€184
|
€291
|
|
Books & Class Materials
|
€33
|
€74
|
|
Personal - Clothing, Toiletries
|
€77
|
€77
|
|
Social/Miscellaneous
|
€132
|
€132
|
|
Total
|
€765
|
€1,453
|
|
Source:
Dublin Institute of Technology, 2016. Please note that these are MONTHLY
costs
|
*€372
figure is mean of single room rent in Dublin
|
Need help with planning ahead ... call Michael on 086
8440541 or email info@mkfinancial.ie
for further information.
Michael Keville T/A MK Financial is
regulated by the Central Bank of Ireland
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