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WITH the Leaving Cert results and CAO offers coming out this month, many families will see their child or children off to college for the first time. For these families, this can be an extremely stressful time, as the cost of third-level education continues to spiral, having a huge impact on family budgets and household spending.

Killarney Credit Union has stepped forward to remind its members that the credit union is here to help and have this week launched a new education loan at 6.2 % APR which can help families in the South Kerry area cover these costs.

According to 2015 ILCU research in the Republic of Ireland, 94% of parents were supporting their children financially through college, up from 74% in 2014. These parents were contributing an average of €453 per child per month to cover college related expenses.
Seventy-two per cent of parents supporting their children through third-level education were struggling to cover these costs.

This week Killarney Credit Union announced the opening of its 2016 bursary award which will give a €4,000 bursary to four third level students to attend college this academic year.

The bursary is open to all members of Killarney Credit Union who are attending college for the first time and is also open to students studying aboard and mature students.

Joy Clifford-Vaughan, youth officer with Killarney Credit Union, said: “Last year we had over 60 applicants for the awards and the lucky winners were Brian Myers, Sarah Courtney, Rebecca Smith and Natalia Makowska who received an award for €1,000.00 each. With the increased costs of attending third level, this bursary is a welcome financial aid for meeting those costs.”

Application forms are available in all branches and on the website www.killarneycu.ie. The closing date is Friday, September 23, at 5pm. Proof of acceptance on course must be provided in advance of payment of bursary.

Mark Murphy, CEO, Killarney Credit Union said: “The significant cost of third level education puts phenomenal pressure on both parents and students starting or returning to 3rd level education this year. The student registration fee combined with monthly rent and bills, books and materials, food and day to day expenses are a significant financial burden to many families.”