Ireland Budget 2024: Students Relieved as Gov’t Announces Increase in Student Grants

The upcoming Ireland budget 2024 reveal is expected to concede significant increases in grants in emerging student news in Ireland. The total cost of the 2024 budget is believed to be about €6.4 billion, out of which €1.1 billion is reserved for taxation measures. This increase in the Student Universal Support Ireland (SUSI) is expected to benefit over 50,000 students studying all around the country.

Regarding the recent student news Ireland about the all-important grants, Paul Kehoe from Fine Gale, the third largest political party in Ireland, said, “Budget 2024 is designed to help you and your family, with education as a key priority for this budget.” To substantiate this claim, the student grants Ireland payments are expected to increase from €6,971 to €7,313, an approximate increase of €300, which can prove to be quite fruitful for those in need of financial aid. Postgraduate students are also expected to reap the benefits of these changes and would be eligible to receive up to €2,300 from the Irish government as grant support.

“We will also see families with an income of less than €100,000 benefit from a reduction in college fees to €1,500, with all other families having fees cut by €1,000,” added Kehoe. Talks are also ongoing with Simon Harris, Minister of Further and Higher Education, to reduce college fees in the upcoming years.

“We are also investing in the future of education. From now into 2024, we will invest an additional €166 million in higher education – with €60 million allocated for core funding.” Kehoe added, signalling a positive swerve in the student accommodation crisis in Ireland that has been plagued with since June-July. This move comes as a fresh wave of hopefulness as Finance Minister Michael Macgrath and Public Expenditure Minister Paschal Donohoe are set to fine-tune the details of the budgeting details at 4 PM Irish Standard Time (8 AM CST)on 12 October 2023.

While the Ireland budget 2024 is undoubtedly good news for students who are already pursuing their education in Ireland and for those who plan to do the same, there is still much left to be desired. While the Ireland budget 2024 suitably quelled all the rattle surrounding student grants, there is still a massive gap left to be filled and even acknowledged, which is the availability of suitable and sustainable student accommodation in Ireland.

In the build-up to the news surrounding student grants in Ireland, the Union of Students Ireland (USI) has demanded the government construct 30,000 new beds. “We called for 30,000 additional student beds and for the government to step in with third-level institutions to ensure those are built,” commented Dean Kenny, the leader of the student union. “We welcome any cut in fees, but our real issue with accommodation hasn’t been met, hasn’t been taken seriously…The number one issue for students is accommodation or lack thereof.” 

Back in July, an independent study conducted by the Irish Council for International Students (ICOS) found that one out of every ten students had to share a single room in Ireland with six other people, a testament to the condition of student accommodation in Ireland. The issue was handled by the government by introducing a rent-a-room scheme where renting out a room from your own house (given that it was a self-contained unit) would give an Irish citizen the chance up to €14,000 tax-free.

The increased student grants would surely be a welcome sight for the 250,000 and more university students in Ireland. Still, the Republic has yet to introduce a concrete plan of action to combat the growing unease surrounding student accommodation.

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