The Union of Students in Ireland will launch the first-ever Student Finance Guide for Irish college students today. The guide, entitled ‘Money Matters: USI Student Finance Guide’, will be launched at 11:30am in IT Tallaght. The guide is produced with the support of the National Consumer Agency.
As the cost of college increases annually, the Student Finance Guide provides an invaluable resource to students and families. One of the key findings of the ‘My World Survey’, a national study of youth mental health published earlier this year, was that young adults’ experiences of financial stress are strongly related to their mental health and well-being.
The USI Student Finance Guide contains expert advice on managing a budget, managing debt and maintaining savings.
It also includes advice on what financial supports are available to students and families, as well as a best practice guide on choosing financial services that meet the individual needs of a student.
Easy-to-use budget sheets are included, enabling students to keep weekly or monthly budgets that will help monitor their income and expenditure.
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USI Vice President for Welfare Denise McCarthy said:
“As students and families struggle to cope with the ever-increasing cost of college and brace themselves for a harsh Budget, USI’s Student Finance Guide is intended to provide information on how they can best manage college finances.
The expert advice on managing debt and savings included in the guide will help families to budget for tuition fees, rent and the living costs. The guide also features easy-to-use budget sheets so that students can keep track of income and expenditure. Information is provided on all available financial supports for students.
USI strives to make college as affordable as possible for its members and this guide will help students and their families get through college despite increasing fees and grant cuts.”
Karen O’Leary, Director of Public Awareness and Financial Education at the National Consumer Agency said:
“This is an exciting time for many students, but it also brings real financial challenges for young people and their families. For many students who may be moving away from home for the first time, this guide is an invaluable resource, helping with budgeting, paying bills and managing your money in a shared household. For all students, whether they are leaving home or not, they will see changes in their spending habits and they may need new financial products and services. This guide tells you what to look out for, the questions to ask, how to avoid getting into unmanageable debt and where to go if things go wrong.”