Stephen Donnelly (Wicklow, Independent)
Link to this: Individually | In context

Question 184: To ask the Minister for Education and Skills if he will consider a programme of State backed low interest loans for students who are struggling to afford the full costs of third level education. [17322/11]

Ruairi Quinn (Dublin South East, Labour)
Link to this: Individually | In context

I have no immediate plans for the introduction of a student loan scheme.

As the Deputy will be aware where full-time undergraduate students meet the eligibility criteria of my Department's free fees schemes, the exchequer meets their tuition fee costs. Financial support is also available to students at both undergraduate and postgraduate levels in the form of student grants. In addition, Section 473A, Taxes Consolidation Act, 1997, as amended by Section 11 of the Finance Act 2011, provides for tax relief, at the standard rate of tax, for tuition fees paid in respect of approved courses at approved colleges of higher education including certain approved undergraduate and postgraduate courses in E.U. Member States and in non EU countries. Detailed information on all financial supports for students can be found on the website www.studentfinance.ie.[jy The implementation issues associated with introducing a student loan scheme were previously assessed by the Department of Education and Skills in the context of policy options for new forms of student contribution. A July 2009 technical report on these policy options, including the introduction of a loan scheme, is published on the Department's website. [jy Future demand for participation growth in higher education needs to be reconciled with limitations on public resources and a need to protect and enhance core quality. Although the nature of these difficult trade-offs are described in the National Strategy for Higher Education to 2030, the strategy also identifies the need for more detailed analysis. In this regard, I have asked the Higher Education Authority to undertake further work on the sustainability of the existing funding framework over the course of this year. This work will inform consideration by Government of policy options in relation to future funding of the sector.