A 10 per cent boost to student stipends will cost the country close to €5 million next year, budget estimates show.

Spending on student maintenance grants will rise from €28 million this year to an estimated €32.8 million next year, following the increase announced in Budget 2022. 

As part of the new budget measures, Finance Minister Clyde Caruana also announced students will be able to work 25 hours per week without losing their stipend entitlement.

Eligible students studying post-secondary, vocational and tertiary level are entitled to receive a stipend every four weeks covering the scholastic year – a total of 10 payments. The increase comes as 16-year-olds are set to vote in the next election for the first time.

The amount students receive depends on their courses which are divided in a classification – ‘general’, ‘prescribed’ and ‘high priority’.

Students following a ‘general’ course receive a stipend of €91.75 every four weeks. The payment will increase to €100.92.  Those reading a ‘prescribed’ course receive a higher €160.55 which in 2022 will go up to €176.60.

‘High priority’ course students receive a rate of €332.07 every four weeks. Next year the payment will be €365.27.

Meanwhile, through a €1 million investment, following this year’s pilot project, more students will be doing their SEC exams at the school they attend, to reduce stress.