Almost one quarter of college students claim being in debt is their biggest worry.
55% of college students have reported skipping college lectures in order to go to work, due to financial concerns, up significantly from 22% of college students who reported the same thing in 2017.
This is according to a new report by the
Irish League of Credit Unions, which surveyed 445 Irish students in April and May of 2019.
The report shows the following figures:
- 24% say that finances/debt are their biggest concern
- 60% say that having to work during the college term is having a negative effect on their studies
- 74% of college students are working during the term in order to cope with costs
Of those who are working during the term, seven in 10 of them are working part-time, while 14% are working full-time and 15% are working ad-hoc hours.
On average, college students are working 15 hours per week.
The biggest expense for students is rent, averaging out at €318 a month, followed by food (€116 on average), travel (€88), and utility bills (€74).
40% of the students stated they will cut back on social life spending in order to make ends meet, but 15% said they would cut back on spending on food, while 11% said they would cut back on medical expenses.
ILCU Head of Communications, Paul Bailey, said: "The realities of the impact of financial pressure on our third level students is apparent in this survey. It's of concern to see that finance and debt is such a significant worry for so many students.
"At a time when they should be focusing on their education, it's worrying to see that greater numbers are skipping lectures and sacrificing time spent on their education in order to earn some extra money."
