Children in Ireland are entitled to free education, but each year back-to-school costs are rising for families. The Zurich Cost of Education Survey 2019* highlights the increasing cost of secondary school in Ireland. Here's a list of expenses you can expect to pay each year and the lifetime cost of putting just one child through secondary education.
The Zurich Cost of Education Survey 2019* has revealed the cost of educating your children in Ireland, and details what you can expect to spend throughout your child's school and college years. The average annual cost of education for a child entering first year is €1,735; an increase of more than €300 compared to last year*.
According to our research, grinds are the most sizeable expense, costing on average €279 per child. The move to secondary school also brings a greater number of 'other' expenses such as lunch money (€177), trips (€158), after school activities (€158) and classroom supplies (€65).
Our research into the cost of secondary school also reveals that parents underestimate the cost of secondary school believing it to be €1,236 for one child per school year. However, our study uncovers that the cost is much higher at €1,440. If we allow for the fact that the bulk of school books will be bought in first and fifth year in the build-up to junior cert and leaving cert cycles respectively, the total cost of six years' secondary school education, extra expenses excluded, is estimated to be €10,410.
The Cost of Secondary School Education
|After school activities
Adding it all up
For parents with children in secondary school, finding the money each year for school items can put a strain on their finances. To alleviate some of these financial burdens, parents are constantly looking at ways to reduce their children's school costs. However, there are many expenses such as uniforms, books, and voluntary contributions that are unavoidable.
An example of this is in relation to school books. For the majority of secondary school children (78%), they are primarily required to have hard copies of books and the Zurich Cost of Education research report found that only 48% of secondary school children were offered a book rental scheme.
Parent's looking at reducing the cost of books during the post primary cycle said that the use of technology could have an impact here. In secondary school, 43% of parents said they would like to see more widespread use of laptops, iPads and eReaders in their children's classroom.
Similarly with regard to uniforms, parents can try to reduce the cost by providing non-branded uniforms for their children but this is dependent on the policy of individual schools. During our research into the cost of education in Ireland, we found that 55% of secondary school children have to wear a full branded uniform. Of those parents surveyed, it was found that only 22% of secondary school parents were eligible for the Back to School Clothing and Footwear Allowance for their children.
There are other areas where parents can reduce costs such as lunches and transport. Secondary school children can bring a packed lunch, but for those that buy their lunch or eat in the school canteen the average spend on school lunches in the year is €200. In secondary school, transport costs for the academic year average around €170 but if children can walk or bike to school then this will eliminate the transport cost.
Early life saving
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 75% of parents have a savings account and save an average of €4,919 per year. Half of those savers say their top saving priority is to cover their children's education costs.
*Source: Zurich Cost of Education Survey 2019
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 Zurich LifeSave Savings Plus 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 June 2019) from when your child was born, by the time they started school you could have built up savings of €8,613 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*||€8,613||€22,092|
|Lump sum of €10,000 and regular contributions of €140 per month*||€19,160||€34,126|
|A gross investment return of 3.2% per annum is assumed for the 5 year savings fund and 3.9% 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 June 2019 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 1.25% and an allocation rate of 101% apply. The information contained herein is based on Zurich Life's understanding of current Revenue practice as of June 2019 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.
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.