The real cost of college in 2025 and how to save for it

At Zurich we understand that planning for your children’s education is important to you. We have been carrying out research into the cost of education in Ireland since 2017.

Zurich’s annual Cost of Education survey_¹ highlights the cost of education in Ireland for primary, secondary and third level. It also reveals that 74% of parents with children in primary or secondary school would like their children to go onto third level education, and shows families are now more likely to start a savings fund to plan financially for their children’s educational needs.

So, what are the costs involved in sending a child to college and how are parents preparing for this substantial expense?

Parents that don’t yet have a child in third level education were found to estimate the cost for one child in college to be €9,997 per year. However, our research into the cost of college education shows that the actual cost of third level education can in fact be much higher than this depending on a child’s accommodation costs while in college.

The good news is that nearly 40% of parents are already saving for their child’s potential third level education. And almost 1 in 3 of parents with a savings plan for their child’s future third level education, started saving when their child was born.

The cost of college in 2025 

Source: Zurich Cost of Education Survey 2025

If you're planning to support your children when they reach college, it might be wise to start saving now. The Zurich Cost of Education research reveals the costs for college students living at home and in rented or student accommodation.

The majority (57%) of students studying at third level education, currently live at home which comes as no surprise given the high cost of accommodation for students. The average annual cost of student accommodation for students in third level education was €14,529 and rented accommodation had an average annual cost of €14,105. That means that the lifetime cost of college is: €24,580 for those living at home, €56,420 for renters and €58,116 for those in student accommodation.

Parents who have children attending third level estimated it costs them €9,293 on average to send their child to college. The cost per child for those living at home is €6,145, so if a child is in student or rented accommodation, the costs are likely to be much higher as illustrated above.

The most popular modes of transport for third level students when travelling to and from college is public transport (62%) and by car (27%). The average cost is €504, down €46 from 2024.

When asked if parents support their child financially outside of rent, transport and college fees, 67% of parents said they do provide financial support to their child in third level. The average monthly financial support parents provide is €272, which is approximately €2,448 for the duration of the academic year (nine months).

Nearly half of parents (47%) think their child is under financial pressure in college with accommodation costs cited as being the biggest driver of financial strain. A part-time job is the top way that third level students mitigate against financial challenges with 62% of parents stating that their child has a job as well as attending college.

The costs breakdown 

This table below is a breakdown of third level education costs*

*Assumption: For the lifetime cost of third level education we have assumed fees, plus parent’s financial support, plus transport occur for four years in all cases. The cost of student accommodation for four years or rented accommodation for four years are also included in the lifetime cost as appropriate. No additional cost has been assumed for living at home.

Saving the child benefit to cover future education costs 

Child benefit is a payment parents receive each month and amounts to €140 per child per month² regardless of income or means.

When we carried out our research into the cost of education in Ireland, we asked parents what do they do with the child benefit each month?

For primary school parents, 45% use the child benefit for day-to-day child costs and 45% use it for household outgoings.

When the same question was put to secondary school parents, 57% said household outgoings is the top use for the child benefit, while 23% save the child benefit compared to 30% of primary parents.

For parents that do save the child benefit, this table below highlights that a college fund is the most common use of child benefit savings:

*This question was a multiple select question, therefore respondents to this survey question could choose more than one use for the money they saved from the child benefit they received. 

Saving the child benefit into a Regular Savings Plan with Zurich

It's clear to see that the cost of education is high and increases over the years. So, wouldn't it make sense to plan ahead and build up your savings year-on-year?

With a Regular Savings plan you can gradually build up the funds necessary to support your children's education.

The table below illustrates just how much regular savings can grow with a Zurich LifeSave Savings Plus plan. For example, if you saved the Government child benefit of €140 per month for five years (as of August 2025) in the Prisma 4 fund from when your child was born, by the time they started school you could have built up savings of €8,954 in time to fund this crucial stage in their education.

As you can see, if your child resides at home during their college years, the lifetime cost of college will be €24,580, so saving the child benefit for 12 years in Zurich’s Prisma 4 fund could be enough to sustain the costs. 

If your child will be in rented or student accommodation, the costs are likely to be much higher meaning you may have to save for longer or increase your monthly savings. 

Our cost of college education calculator is a useful tool that will outline the estimated costs of sending your children to college and will help you work out how much you need to save each month to meet these college costs.

Learn more about our regular savings Get financial advice

Sources:

¹Zurich Cost of Education Survey 2025 conducted by iReach Insights.

²Citizens Information: Child benefit

The information contained herein is based on Zurich Life’s understanding of current Revenue practice as at August 2025 and may change in the future.