The Department of Justice has announced an increase in the financial requirements for non-EU students intending to study in Ireland to €10k per year.
Starting from July 2023, students from non-EU countries will be required to prove that either they or their sponsor have access to €10k per year to support themselves while living in Ireland for each year of their course.
The financial requirement has also increased for students studying courses with a duration of less than six months. Students studying on these courses must prove they have access to either €700 per month or a total of €4.2k depending on which amount is lesser.
The requirement was previously that students from non-EU countries were required to demonstrate that either they or their sponsor had access to €7k for each year of their course to support themselves while living in Ireland. Students on courses with a duration of less than six months had to demonstrate access to €500 per month or €3k per year depending on which amount was lesser.
In an email statement to The University Times, Executive Director of the Irish Council for International Students (ICOS) Laura Harmon said: “ICOS is disappointed that the financial threshold for non-EEA international students will increase in 2023 as it will likely prevent many people from being able to study in Ireland in the future”.
She continued: “At the same time, we are mindful that there has been a marked increase in the cost of living in Ireland, particularly this year, which needs to be taken into account to avoid international students arriving in Ireland without the necessary funds to support themselves.”
Students from non-EU countries are also required to provide evidence of the money paid into and out of their primary bank account in the six months prior to their appointment to acquire residency in the form of bank statements on headed paper.
The Department of Justice information website states that “Where original bank statements are not available, internet printouts will be accepted once every page has been notarised by the bank and the statement is accompanied by letter from the bank confirming its authenticity”.
Students are also required to provide an explanation for any large or irregular payments into or out of their primary account. If they are providing statements for a savings account, they must have a letter from the bank certifying that they have access to the money in that account.
In an email to The University Times, a Trinity spokesperson said: “We have been informed that the decision to increase the deposit required for each year of planned study as part of the visa application process is to ensure students are adequately prepared financially to support their studies in Ireland”.
“While it is important for students to be prepared and provided with guidelines in this regard, we will monitor the impact of this policy change on student decisions to accept a place at Trinity given the current growth in applications from international students to study here.”
This article was updated on December 22nd to include a statement from Trinity.
