The Cost of Primary School Education 2023

The Zurich Cost of Education Survey 2023* highlights the increasing cost of primary school in Ireland. Here's a breakdown of what you can expect to spend each year for one child, and the lifetime cost of primary education.

It all starts here; your child's first days at school are a big milestone. Their first day at school is also your first day of many years of (very worthwhile) expense and investment.

The average cost of sending a child to primary school each year is €1,871 up from  €1,573 last year. Our research report into the cost of sending a child to primary school for one year finds that parents often underestimate the actual cost*.

Often the first thing that comes to mind for parents counting the cost of sending their children to primary school is the cost of books and school uniforms, and while these items do account for a substantial expense, they are not the only costly item on the back to school shopping list. The Zurich Cost of Education Survey 2023 found that in primary school, the highest costs are transport €338, after school activities €283, lunches €237 and books €222. 

When adding up all the figures, the average cost of sending just one child to primary school for one year is €1,871 and the total cost of eight years' primary school education certainly adds up and comes in at an estimated €14,968.

The Cost of Primary School Education
Item Estimated Cost
Transport €338
After school activities €283
Voluntary contribution
School supplies €137
Parents association €87
Trips €78
Annual cost €1,871
Lifetime cost


Hidden costs

In addition to the obvious expenses associated with sending children to school, the Zurich Cost of Education Survey also found other hidden costs and looked at whether or not there are means by which parents can better manage their finances.

It is not surprising to learn that because the cost of education for children is so high, parents try to find ways to reduce expenses. 

The majority of primary school children are primarily required to use hard copies of books. Primary schools offered a book rental scheme for 65% of children and the majority of parents (97%) availed of this initiative. In addition, parents said they would like to see more widespread use of laptops, iPads and eReaders in an effort to reduce the cost of books.

Saving solutions

There are some measures parents can take to reduce the cost of sending their children to primary school, such as providing packed lunches, walking to school and availing of book rental schemes. Other solutions to minimising the financial burden of children's education is early planning and financial saving.

Looking specifically at parents' saving behaviour, the Zurich Cost of Education research found that parents that have a savings account say one of their top saving priorities is to cover their children's education costs. 

*Source: Zurich Cost of Education Survey 2023

Something to think about...

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 July 2023) from when your child was born, by the time they started school you could have built up savings of €8,784 in time to fund this crucial stage in their education.

Savings fund after five years starting primary school Savings fund after 12 years starting primary school
Regular contributions of €140 per month* €8,784
Lump sum of €10,000 and regular contributions of €140 per month* €19,749 €35,159

A gross investment return of 4.6% per annum is assumed for the 5 year savings fund and 4.6% per annum for the 12 year savings fund. We have assumed that on death, encashment, partial encashment or assignment of the policy or on each 8th policy anniversary, tax is deduced on the gains made at the current rate of taxation, being 41%. A government insurance levy (currently 1% as at July 2023 and may change in the future) applies to this policy. The contribution amounts above are inclusive of this levy. No surrender penalties apply. An annual management charge of 1.35% and an allocation rate of 101% apply. The information contained herein is based on Zurich Life's understanding of current Revenue practice as of July 2023 and may change in the future.   

Cost of education calculators

Our Cost of Secondary School Calculator is a tool that helps you work out how much you need to save to cover the costs of putting children through secondary school.

Cost of Secondary School Calculator

Use our Cost of College Education Calculator to work out the estimated costs of sending your children to college and to see how much you might need to save each month to meet these college costs.

Cost of College Education Calculator

Benchmark Tool

Use Zurich's Cost of Education benchmarking tool to see how education costs compare and pinpoint where savings could be made.

Benchmark Tool

Voice services

When it comes to planning your future, saving is a great place to start. Whatever your goals are, saving with Zurich is a smart move. Whether using Google Assistant or Amazon Alexa, the Zurich Ireland voice services action offers you multiple savings calculators to help plan and save for the future.

Warning: The value of your investment may go down as well as up.
Warning: If you invest in this product you may lose some or all of the money you invest.
Warning: These figures are estimates only. They are not a reliable guide to the future performance of your investment.
Warning: This product may be affected by changes in currency exchange rates.

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