I have my daughter starting in UCD this week. She gave me two bills yesterday, one for Fees of €1,085 and one for onsite student accommodation €4,315. The fees element represents an instalment of 1/3rd, I think (I hope!) the accommodation is 50% of the total for the year. Ok, I had some sense that the next 4 years were going to be expensive but it was when I looked at the tax credits available that I got a real shock. Apparently from what I can see, there is a Disregard Amount of €3,000 so, the only tax credit is for (1,085 * 3 - 3000) * 20% = €51. So, out of an assumed total of €11,885 (1085 * 3 + 4315 * 2) I only get a tax credit of €51! Am I right? Secondly, does that accommodation piece qualify for rent relief?
On a broader point, Ireland Inc always boasts its well educated young workforce but is utterly tokenistic how it supports or encourages it as a policy objective. Then that is compounded by the fact that government has "skin in the game" here in that a) an educated young workforce is a serious attraction to FDI b) that educated workforce will earn more over their careers, and consequently, generate more GDP and pay far more tax. Given how strategic it is for government to support education it does not look like it is prepared to support the sector other than build colleges (a large part funded by private endowments too) and pay university staff!
On a broader point, Ireland Inc always boasts its well educated young workforce but is utterly tokenistic how it supports or encourages it as a policy objective. Then that is compounded by the fact that government has "skin in the game" here in that a) an educated young workforce is a serious attraction to FDI b) that educated workforce will earn more over their careers, and consequently, generate more GDP and pay far more tax. Given how strategic it is for government to support education it does not look like it is prepared to support the sector other than build colleges (a large part funded by private endowments too) and pay university staff!