A centralised online system dealing with students grants has been introduced for those entering third-level in the next academic year.
The new system, announced yesterday by Minister for Education Ruairí Quinn, is expected to save the exchequer an estimated €5 million annually.
Previously, students applied to their local authority or VEC for their grants, with some 66 authorities involved.
The new system is known as Student Universal Support Ireland (SUSI) and will accept all new grant applications and make payments.
Mr Quinn has urged students to apply early. He said Leaving Certificate students would finish their examinations in the next ten days and those likely to qualify for grants should make an online application through www.studentfinance.ie.
Students were not required to have decided on a college course before applying.
"Many students have had to wait for lengthy periods for their grants in the past and faced undue hardship as a result of those delays,'' said Mr Quinn.
The new system will be run by the City of Dublin VEC.
Fianna Fáil Seanad spokeswoman on education Averil Power said the new system would do much of the administrative work by collecting most of the data from students.
"However, supporting papers will still have to be submitted by applicants and checked manually by staff,'' she added.
"It is vital that this aspect of the system is as efficient as possible in order to avoid delays in payments.''
The Union of Students in Ireland (USI) welcomed the new system but said any attempt at reform must include the provision of adequate financial assistance for those families struggling the most.
USI president Gary Redmond urged students to visit studentfinance.ie as soon as possible to check if they are eligible for a grant and apply immediately.
