A New Year, a Simple Habit, a Powerful Future for Your Children 🎓

The New Year is often when we think about fresh starts and better habits – exercising more, spending a little wiser, planning further ahead. One habit that can quietly make a huge difference to your family’s future is building a consistent education savings plan for your children.

Estimates from the Zurich Life Cost of Education Ireland Survey (2025) highlight just how significant third-level education costs can be — and how important it is to plan early.

 

What does education really cost?

Education costs in Ireland vary widely depending on:

• Location
• Length of study
• Whether a student lives at home or rents

Students living away from home face substantially higher costs, and the difference in costs if you have multiple children can be striking.

 

Example: Three children attending college while living at home

Based on current estimates, here’s what you would be expected to have saved for:

• Three children aged 11, 13, and 15
• Each completing a 4-year degree
• Starting college at age 19
• Living at home

Total estimated savings required: €83,086.64

A meaningful sum — but one that becomes far more manageable when broken into small, consistent contributions over time.

 

Now compare that to students living away from home

If those same three children were required to live in student accommodation, the estimated costs rise dramatically.

Based on the same Zurich Life survey assumptions, the estimated funds required would be:

• Dependent 1: €68,092.16
• Dependent 2: €65,448.06
• Dependent 3: €62,906.63

Total estimated savings required: €196,446.85

That’s well over double the cost of children living at home — and a powerful reminder of why early planning matters.

 

What Can you Do?

One of the simplest ways parents can start is by redirecting the €140 per month Child Benefit into a dedicated long-term education savings account.

This isn’t a new cost, it’s simply putting money you already receive to work more efficiently:

• Helping protect the real value of your savings over time
• Targeting returns above inflation, aiming for a real return
• Creating a consistent savings habit
• Potentially avoiding the need to borrow later in life

Rather than paying interest on education loans in the future, you give your savings the opportunity to earn interest today.

 

Small steps, taken early, make a big difference

Starting early is key. Even modest, regular contributions can build into a substantial fund over time, especially when invested appropriately for the long term.

That’s exactly what our Future Save Education Plan is designed to support.

 

How the Future Save Education Plan helps

The plan is designed for real life; flexible, accessible, and adaptable as circumstances change:

• ✅ Easy access savings
• ✅ Contributions can be increased, decreased, paused, or restarted at any time
• ✅ Penalty-free withdrawals
• ✅ Choice of risk level — take as much or as little risk as suits you
• ✅ Guidance to help you choose what’s appropriate for your current circumstances

Whether you’re just starting out or already saving, the plan meets you where you are.

 

One simple New Year fix

If you’re already saving your child benefit – great. If not, this could be one simple New Year change that makes your children’s education savings far more meaningful.

Redirecting the child benefit into a dedicated education savings plan:

• Builds consistency
• Supports better long-term outcomes
• Reduces reliance on future borrowing
• Keeps you in control

A small habit, maintained throughout the year, can make a lasting difference to your children’s future.

The best time to start was years ago. The next best time is now.

 

If you’d like to explore how this could work for your family, we’re here to help.

Kind Regards,

Stephen O’Driscoll – MSc AMP BA QFA

Director

0834407829