Only a third of students will have received their college grant by Christmas,
The newspaper stated that just 13,500 students will have been paid before the festive season.
A month ago, the Minister for Education Ruairí Quinn said the agency tasked with processing the grants, SUSI, would pay out on 33,000 applications by the end of the year.
Almost 11,500 have been paid already, but the agency only expects a further 2,000 applications will be processed by the end of the week.
SUSI was designed to improve the application process for students, but has been criticised for delays since its introduction.