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Budget 2024

Budget 2024

A number of measures announced in Budget 2024 will result in changes to student funding. Some measures are defined as once-off cost of living measures and these will come into effect for academic year 2023/24 only.

Other changes relating to the student maintenance grant will come into effect in January 2024 and all other measures will apply from September 2024.

All measures are subject to legislation provided by the Department of Further and Higher Education, Research, Innovation and Science.

See below for more details.

Once-Off Cost of Living Measures

Who will benefit?

Undergraduate students eligible for the free fees initiative.

How much extra will eligible students receive?

SUSI will pay the applicable rate to colleges on behalf of students who have been awarded 100% student contribution.

For students awarded 50% student contribution, the reduction will mean that the balance they pay to their college will be €1,000 for the 2023/24 academic year.

For students awarded the €500 student contribution, the reduction will mean that the balance they pay to their college will be €1,500 for the 2023/24 academic year.

Who will benefit?

Postgraduate students who have been awarded a postgraduate fee contribution grant.

Postgraduate students who receive the special rate of grant and a fee contribution of up to €6,270 are not included in this measure.

How much extra will eligible students receive?

Eligible students will receive an additional €1,000 towards their postgraduate fee contribution grant.

When will eligible students receive this payment?

SUSI will pay the higher amount directly to the student’s college.

Maintenance Grant Changes from January 2024

Who will benefit?

All maintenance grant holders studying PLC and undergraduate courses, plus postgraduate students in receipt of the special rate of maintenance.

How much extra will eligible students receive?

From January 2024, the non-adjacent maintenance rates will increase by €615 and the adjacent maintenance rates will increase by 10%. Eligible students in the current academic year will see their maintenance grant payments in respect of January to May 2024 increase proportionately once this measure comes into effect in January 2024. 

These increases will not be backdated to the start of the 2023/24 academic year.

The approximate increase for the period January to May 2024 for each rate of grant is set out below:

Grant Award Approximate Increase January – May 2024
Special Rate Non-Adjacent  €342
Special Rate Adjacent  €163
Band 1 Non-Adjacent  €342
Band 1 Adjacent  €90
Band 2 Non-Adjacent  €342
Band 2 Adjacent  €68
Band 3 Non-Adjacent  €342
Band 3 Adjacent  €49
Band 4 Non-Adjacent  €342
Band 4 Adjacent  €31

When will eligible students receive the increased payment?

This increase will begin on an annualised basis from January 2024 in respect of payments for January to May 2024.

Who will benefit?

Postgraduate students who meet the income thresholds set out in the table below and who meet all other eligibility criteria may be eligible for a maintenance grant from January 2024.

To qualify for: Special Rate* Standard rate Standard rate Standard rate Standard rate
Band 1 Band 2 Band 3 Band 4
No. of dependent children          
Less than 4 €25,000 €40,875 €41,970 €44,380 €46,790
4 to 7 €27,400 €44,810 €46,025 €48,670 €51,325
8 or more €29,702 €48,575 €49,890 €52,760 €55,630
Additional increments that may be applied to the income limits for Maintenance Grants
+ increment for each additional relevant person €4,950 €4,950 €4,785 €4,785 €4,785

*To be eligible for the special rate of maintenance the reckonable income on 31 December 2022 must include an eligible payment listed in Schedule 2 of the Student Grant Scheme.

How much extra will students receive?

Eligible postgraduate students will receive a proportionate maintenance grant from January to May 2024. The approximate grant rates are set out in the table below:

Grant Award Approximate Grant January - May 2024
Band 1 Non-Adjacent  €2,384
Band 2 Non-Adjacent  €1,851
Band 3 Non-Adjacent  €1,390
Band 4 Non-Adjacent  €926
Band 1 Adjacent  €986
Band 2 Adjacent  €746
Band 3 Adjacent  €541
Band 4 Adjacent  €340

Postgraduate students who are already in receipt of a special rate of maintenance grant will benefit from the increases in maintenance grant rates effective from January 2024.

When will eligible students receive this payment?

This increase will begin on an annualised basis from January 2024 in respect of maintenance payments for January to May 2024.

These increases will not be backdated to the start of the 2023/24 academic year.

How do postgraduate students avail of the maintenance grant?

If you have already been awarded the Postgraduate Fee Contribution for academic year 2023/24 and your reckonable income is under the threshold for a maintenance grant, your application will be reassessed by SUSI.

Other Budget Measures Effective September 2024

Who will benefit?

Maintenance grant holders studying PLC, undergraduate and postgraduate courses.

How much extra will students receive?

From September 2024, the non-adjacent maintenance rates will increase by €615 and the adjacent maintenance rates will increase by 10%.

The approximate grant rates and increases are as follows:

Grant Award Existing 2023/24 Grant Rate at September 2023 Approximate Grant Rate for 2024/2025 Approximate Full Academic Year Increase
Special Rate Non-Adjacent * €6,971 €7,586 €615
Special Rate Adjacent* €2,936 €3,230 €294
Band 1 Non-Adjacent  €3,677 €4,292 €615
Band 1 Adjacent  €1,613 €1,774 €161
Band 2 Non-Adjacent €2,717 €3,332 €615
Band 2 Adjacent €1,221 €1,343 €122
Band 3 Non-Adjacent €1,887 €2,502 €615
Band 3 Adjacent €886 €975 €89
Band 4 Non-Adjacent €1,051 €1,666 €615
Band 4 Adjacent €556 €612 €56

When will eligible students receive this payment?

The increase will take effect from the start of academic year 2024/25.

Who will benefit?

Eligible postgraduate students who meet the  eligibility criteria including income thresholds.

How much extra will students receive?

The approximate increase is as follows:

Grant Award Existing 2023/24 Grant Rate Approximate New Grant Rate 2024/25
Band 1 Non Adjacent  €0 €4,292
Band 2 Non Adjacent  €0 €3,332
Band 3 Non Adjacent  €0 €2,502
Band 4 Non Adjacent  €0 €1,666
Band 1 Adjacent  €0 €1,774
Band 2 Adjacent  €0 €1,343
Band 3 Adjacent  €0 €975
Band 4 Adjacent  €0 €612

When will eligible students receive this payment?

The increase will take effect from the start of academic year 2024/25.

  1. An increase to the income threshold for Band 4 Maintenance from €46,790 to €50,840.
  2. An increase to the income threshold for 100% Student Contribution grant from €50,840 to €55,924.