The funding has been allocated to assist with the cost of living crisis
Some €4.3 million has been allocated to assist students with the cost of living.
The once off funding will be provided through the Student Assistance Fund, which assists students with books and class materials, rent, childcare and transport, among other things.
The HEA will distribute funding of over €4.3m to the HEIs in early 2023.
In addition, it has also been confirmed that students receiving the once off Tier 3 - 1916 Path 2 bursary will have their bursary increased by €500 for the 2022/2023 academic year.
The objective of the 1916 Bursary Fund, provided under strand 2 of PATH, is to support students who are most socio-economically disadvantaged, and who are from communities significantly underrepresented in the student body participate and succeed in higher education.
Target groups include those students from socio-economically disadvantaged communities who have low levels of participation in higher education, students who are members of the Traveller and Roma communities, students with a disability, mature students and further education award holders.
Based on provisional data, the number of students affected by this change will be approximately 820, therefore the cost of this increase will be approximately €410,000.
Kildare Senator and Fianna Fáil education spokesperson Fiona O’Loughlin commented:“The Student Assistance Fund is a vital support to many students who otherwise would not be able to cover the expenses associated with 3rd level education .”
"The total allocation for the Student Assistance Fund for the 22/23 academic year will be over €20 million, which is the highest amount that has ever been provided under this fund.
“As education spokesperson I advocated strongly on behalf of students to ensure that Budget 2023 made a meaningful intervention to support students. Budget 2023 reduced the registration fee by €1,000 and increased the maintenance grant.
"The renters credit will also benefit students or their parents and the extension of free public transport is making commuting more affordable.
“Education is the great leveller and I am pleased to see tangible supports for students," she added.
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