Some third-level students have resorted to going to money lenders to finance the rising cost of their education, the Union of Students in Ireland has claimed.
The cost of attending college has risen to almost €7,000 per student each year, the union said today.
USI welfare officer Mr Glen Guilfoyle said the cost of college was "fast becoming the way students judge their course or location of study".
"While most students are forced to take out a bank loan at some stage in their college life, we have heard of some who have made the mistake of borrowing off unlicensed moneylenders, resulting in exorbitant interest rates and in some cases serious intimidation," Mr Guilfoyle said.
"Other students have opted to drop out of college after one or two years, preferring to take their chances in the workforce rather than ending up further in debt by persevering with their studies."
He said USI research carried out in colleges throughout the country showed that a total of 74 per cent of students would choose a college near their home, while 63 per cent said their choice of college would be determined by financial reasons.
More than half (51 per cent) of those surveyed said they intended to finance their studies by taking part-time employment. Mr Guilfoyle said this "shatters the myth" that the State or parents totally finance education.
Mr Guilfoyle argued the student grant should be increased to basic social welfare levels so students have more chance of surviving college on their own means. He also said it was vital that students make out a comprehensive budget at the start of the year.