Education costs: Parents’ €260m credit union trip

CASH-STRAPPED parents are turning in desperation to their local credit union and borrowing a staggering €260 million to fund their child’s education costs, according to research.

Yesterday, the INTO said the €10.5m borrowed for primary school costs highlighted the “myth of free primary education and the shortfall in government funding”.

Research conducted by the Irish League of Credit Unions found that of the €260m borrowed, €203m was used to meet the costs of third-level education.

Graduate-entry programmes for medicine are costing students upwards of €40,000 per annum, culminating in loans of more than €100,000.

While second-level education costs account for €23.5m in education loans, a worrying €10.5m was borrowed to meet the costs of primary education.

The average cost of sending a child through the education system is estimated at €39,000 by Bank of Ireland Life, Barnardos and the Labour Party.

Barnardos has calculated that school books in primary school cost €137 and €286 at secondary school. Primary school uniforms cost €310 and €412 for secondary school students.

INTO general secretary John Carr yesterday insisted that the “free book” scheme should be increased as it fails to meet the real costs of school books. “Primary schools have done their best to reduce costs to parents,” he said. “This is a huge challenge because of serious under funding.”

Separate figures from the Department of Education show the Government is spending €10,272 per student on third level education, but only €5,701 on primary students.