According to new research, while the average cost involved in putting a child through primary and secondary education has fallen since last year, third-level costs were found to have soared – unless the child was living at home.
However, costs associated with every level of education in Ireland were found to have increased in the five years since 2019, with the cost of college education for those living in rented accommodation doubling from €8,361 in 2019 to €16,100 in 2024.
Zurich’s annual Cost of Education in Ireland survey found that parents consistently underestimate the average cost of sending a child to primary and secondary school.
The survey, undertaken by iReach with a sample of 1,900 respondents earlier this year, found that parents estimated that it costs €1,412 to keep their child in primary school education. However, the study calculated that the true cost per year for primary school for one child is €1,546, resulting in a ‘lifetime cost’ of over €12,000.
Lunches were considered to be the highest spend during a child’s primary school year at €333, followed by after-school activities at €246 and then shoes (€175) and clothing (€158).
Around 14% of parents were found to have taken out a loan to cover the costs of primary school education for their child/children, which was down 11% from 2023.
Parents were also found to have underestimated what the study claimed to be the actual, annual cost of secondary education for one child – parents estimating they spend €2,281 on average per school year, compared with the study’s €3,088. Grinds (€912) were found to be the highest spend item for parents with children in secondary school, followed by lunches (€374) and transport (€326).
The report found that 20% of parents have taken out a loan to help pay secondary school costs for the child/children.
However, the biggest disparity between parents’ estimates and the calculated actual cost was found when it came to third-level education – dependent on where the child is living during the course of their third-level education.
Parents of third-level students estimated that it costs them €9,511 to send their child to third level. The cost per child for those living at home was calculated to be €6,033, but this rose dramatically if a child was living in student or rented accommodation.
Almost two-thirds of students (64%) studying at third-level currently live at home, with the average annual cost of student accommodation found to be €5,034. The average annual cost for non-student, rented accommodation however was double at €10,067.
This meant that the average cost of third-level education for parents whose child lives in student accommodation is €11,067, and €16,100 for those living in rented accommodation.
Despite this, 90% of parents said they would like to see their children receive a third-level education, while 40% said that they are already saving for it.