The government is to allocate \u20ac3.3 billion to the Department of Further and Higher Education, Research, Innovation and Science.<\/p>\n
The budget includes \u20ac50 million to support third level students.<\/p>\n
Speaking at the budget 2021 address to the D\u00e1il on Tuesday, Minister for Expenditure Michael McGrath said that supporting higher education will benefit many aspects of Irish society.<\/p>\n
\u201cAs we face the challenges of the future, I believe that this significant investment will deliver long-term benefits for our society and our economy,\u201d said Minister Donohoe.<\/p>\n
The package includes 5000 extra places in colleges and universities and an increase in the SUSI grant and income thresholds for postgraduate students.<\/p>\n
Previously, postgraduate students received \u20ac2000, which is to increase to \u20ac3,500.<\/p>\n
The income threshold for postgraduate students to access the SUSI grant is to go up from \u20ac31,500 to \u20ac54,240.<\/p>\n
Minister for Higher Education, Simon Harris said on Twitter on Tuesday that this is the first increase to postgraduate funding in a decade.<\/p>\n
\u201cI think its really important that we put in greater grants for students doing postgrads,\u201d he said.<\/p>\n
Two hundred additional places were also allocated to the 1916 Bursary, which helps disadvantaged students attend college.<\/p>\n
A once-off payment of \u20ac250 is expected to be given to all full-time third level students to help the transition to online learning.<\/p>\n
\u201cGovernment recognises the particular difficulties caused by COVID-19 for full-time third level students and will work to provide additional supports in respect of the current academic year,\u201d said Deputy McGrath.<\/p>\n
A survey conducted by the Bank of Ireland in 2015 found 63 per cent of students work part-time.<\/p>\n
While eight per cent of students work full time during the college term.<\/p>\n
During his address to the Dail on Tuesday, Minister for Finance Paschal Donohoe said that young people were significantly affected by the Covid-19 pandemic, \u201cIt is clear that this pandemic has had a disproportionate impact on the job prospects of the young. Youth unemployment hit a peak of 64 per cent in May before falling to 37 per cent in September. Figures that were unimaginable just a few short months ago.”<\/p>\n