Money. It's one of those things that just seems to disappear when you're not really paying enough attention to it and in college, it can go faster than you think after fees, rent, bills, books, food, event tickets and everything else is paid for. With some careful consideration and budgeting to get your finances in order, you could take away one less stress of attending college. This page will give you some helpful tips and tricks as well as provide important information to know for managing your money whilst at MIC.
> Banking
> Grants, Assistance Funds, Scholarships & Awards
This is the big one! You've got in to college, applied for a grant and wondering what to the next...? You're going to need a bank account! Many of the leading banks in Ireland offer some varient of a student current account with the main providers being:
Bank of Ireland (Third Level Current Account)
Permanent TSB (Student Current Account)
Credit Union (Current Account)
Revolut (Not a bank but offers standard account)
An Post Current Account (Not a bank but offers standard account)
Remember to do your research and to read the fine print when selecting a bank account suitable for you. Some accounts can carry maintenance fees, transaction fees, quarterly fees and may be limited in terms of contactless payments or internet and phone banking. Be sure to also check for useful features such as emergency cash funds or rewards programmes and think longterm with your banking by having a look at what each provider offers in terms of Graduate Accounts for after graduation.
Avoid Overdraft! Most accounts will also offer 'X' amount as an overdraft allowance but no matter how tempting, we strongly urge you to avoid going near this. If you don't have the money now, how are you going to pay back the overdraft balance later? Spending money that isn’t yours is a really bad habit to get in to and it’s much easier in the long run to budget than overspend.
Websites such as bonkers.ie and the Competition and Consumer Protection Commission (CCPC) have useful comparison tools to help you find the best bank account suitable for you!
What even is a budget!? A budget is your plan for spending and saving. It should detail your income and expenses to help you see exactly where your money is going.
You can easily create budget spreadsheets using programmes like Microsoft Excel, Numbers on Apple devices or Mabs.ie has a helpful online budgeting tool. Some online banking apps will also feature tools for budgeting and managing your money.
You should budget your money around the times your grant comes through although you can expect delays at the best of times. If you are concerned about your grant or have any major issues please contact the MIC Grants Office by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..
Remember to budget for your placement! Most courses will have a placement aspect at some point and you may require materials or books for this that you weren't expecting. Listen carefully in your induction lectures for information relating to your placement so you can begin to prepare and plan well in advance. We recommend putting aside a few euro each week in the months leading up to your placement to help with any potential costs it may incur.
Grants, Assistance Funds, Scholarships & Awards
There are a number of grants, funds, scholarships and awards available to students in Ireland which each carry their own eligibility criteria and offer a number of financial and academic supports depending on the level of study and course being undertaken (e.g. PLC, Undergraduate, Postgraduate, Study Abroad). For more information and to view eligibility, please visit the sites below:
- Free Fees Initiative - Tuition fees may be paid in respect of full-time undergraduate students undertaking approved courses in eligible institutions
- SUSI - The main source of financial support available to students from the Irish State.
- Fund for Students with Disabilities (FSD) - One of the main funding sources for students with disabilities undertaking further studies.
- The Student Assistance Fund (SAF) - provides financial support in addition to a SUSI grant to full or part-time students who are experiencing financial difficulties while attending college.
- Back to Education Allowance - is designed for anyone who is receiving a state payment and is unemployed, parenting alone or has a disability and wishing to return to education.
- The 1916 Bursary Fund - was created to encourage participation and success by students from sections of society that are significantly under-represented in higher education.
- MIC Scholarships & Awards - MIC also offers a number of scholarships and awards which students can apply for from Entrance Scholarships, Sports Scholarships to the President’s Scholarship Award.
- Other bursaries and scholarships - More information on all other bursaries and scholarships available in Ireland from the All Ireland Scholarship Scheme, The Society of St Vincent de Paul Education and Training Bursary Fund and the Irish Refugee Education Fund.
MIC Contacts:
- Access & Disability Office - This email address is being protected from spambots. You need JavaScript enabled to view it.
- Grants Office - This email address is being protected from spambots. You need JavaScript enabled to view it.
- Admissions Office - This email address is being protected from spambots. You need JavaScript enabled to view it.
Don't forget that an Síopa (Limerick Campus) and our online store (shop.misu.ie) have all your placement, stationery and MIC/MISU Merch needs covered at pocket-friendly student prices. Shop online to get your items delivered straight to your door via courier service or click & collect at the MISU Info and Services Desk! Follow shopatmisu on Instagram and Facebook to keep up to date with all our offers and newest products.
Gambling is a game of chance where you bet money on the outcome, here are some different types of gambling;
- Online Games
- Lottery (National/Euromillions)
- Scratch Cards
- Betting (Sports/Horse-racing etc)
- Slots/Poker
1 in 10 Male students at Third Level have a gambling problem
Gamblers Anonymous (GA):
A support group where members discuss getting help for a gambling addiction You can attend Gambler’s Anonymous meetings which are located in several different cities and towns around Ireland Find out more about meeting times at https://www.gamblersanonymous.ie/ GA also has a mobile app listing all of their services and meeting times GA also hold meetings for family and friends of people with a gambling addiction called Gam-Anon GA and Gam-Anon meetings are free to attend
More information on gambling and supports can be found at https://www.problemgambling.ie/
Apps can be your best friend when it comes to budgeting and are a great place to start but with so many available, it can get confusing real quick. Here are some apps that we recommend:
- Revolut
- Splitwise (good for any bills you need to split with housemates/roommates)
- Spendee
- Plum
- Money Lover
- Mint
- You Need a Budget
- AIB Online Banking
Remember: Not all apps are free and some can have hidden charges or work as 'trials' only to begin with. Do some research and check the reviews before downloading any apps that you will be putting personal information on. Check the permissions and how they will use whatever information you put on the app and avoid using apps that are too complicated, will use large amounts of storage and data or will spam you with a lot of ads.
For more help and advice on budgeting, money management and all forms of grants, funds, scholarships and awards available, please visit the following links or contact via email or telephone:
SUSI T. 0818 888 777 / E. This email address is being protected from spambots. You need JavaScript enabled to view it.
The Higher Education Authority T. (01) 231 7100 / E. This email address is being protected from spambots. You need JavaScript enabled to view it.
Department of Further and Higher Education, Research, Innovation and Science T. (01) 889 6400 / E. This email address is being protected from spambots. You need JavaScript enabled to view it.
Citizens Information T: 0818 07 5780 (Limerick City) or 0818 07 6510 (Thurles) or 0818 07 4000
MABS T. 0818 07 2210 (Limerick Office) or 0818 07 2740 (Thurles) / E. This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it./ WhatsApp 086 035 3141 / Online Chat
Spunout E. This email address is being protected from spambots. You need JavaScript enabled to view it. / Online Chat
MISU T. 061-400013 / E. This email address is being protected from spambots. You need JavaScript enabled to view it.
If you experience severe financial hardship while in college, we encourage you to make contact with:
The Sabbatical Officers in the SU (This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.) or any other SU staff member (This email address is being protected from spambots. You need JavaScript enabled to view it.).
The Access & Disability Office on the Limerick Campus - T.061 204 510 / E.This email address is being protected from spambots. You need JavaScript enabled to view it. / Room. G01
Paula Hourigan (Senior Academic Administrator) on the Thurles Campus - T. 0504 20535 / E. This email address is being protected from spambots. You need JavaScript enabled to view it. / Room. P122
We cannot perform miracles but it doesn’t mean we won’t try!