Staying at home is 50 per cent cheaper for students and their families than living in rented accommodation, according to the DIT Student Cost of Living Guide.

The guide, by DIT Campus Life, shows that the annual cost of living away at home has increased from €7,803 to €7,902. The annual cost for a student living at home is up from €4,095 to €4,176.

The biggest cost for students away from home is rent. The national average rent is currently stable, but the Dublin market is on the rise with a 4.5 per cent increase since last year.

Transport costs have also risen, with the cost of a monthly student short hop bus ticket increasing by €6 – an extra €54 over the course of nine months.

The student contribution charge will increase from €2,500 for the 2013/14 academic year.

“Fewer students are able to get part-time work, and many families are struggling to support their children who are in college,” said Brian Gormley from DIT Campus Life.

The 2013 National Student Survey shows that half of students in Ireland do not have a part-time job and 41 per cent are financed by their parents.

The DIT Student Cost of Living Guide, including tables with breakdowns of costs, is available here.

Read's column on how to live cheaply here.