Carol Nolan (Laois-Offaly, Independent)
Link to this: Individually | In context | Oireachtas source

280. To ask the Minister for Education and Skills the progress he has made in relation to the commitment in the programme for Government to develop a long-term sustainable funding model for higher level education; the estimated timeframe for when such a model will be put in place in legislation; and if he will make a statement on the matter. [56022/22]

Simon Harris (Wicklow, Fine Gael)
Link to this: Individually | In context | Oireachtas source

The Government agreed a sustainable funding model for higher education in May 2022 following an extensive economic assessment undertaken through the European Commission's DG Reform programme, Funding the Future, the Government's policy response, settled the question on funding Higher Education.

The Government has decided that income contingent loans will not form part of the future funding model. Instead, the Government is committing to a multi-funded model of additional Exchequer investment and employer contributions through the National Training Fund and student contribution. It is also my intention that in response to the cost of education and living on an ongoing basis.

Budget 2023 saw the first tranche of funding with €40 million allocated to address core funding. This investment is the first significant step in addressing core underfunding of the higher education system in a strategic and reformative way. By providing capacity building for key roles we are resourcing the sector to adapt and respond to key strategic reform measures. This progress has been expertly aided by the work of the Funding the Future Implementation Group which is co-chaired by myself, alongside Professors Anne Looney and Tom Collins, which will now continue its remit to develop reform recommendations to inform the implementation of these measures and development of future budgetary considerations.

In addition the work of Funding the Future and a recent Spending Review realised a 25% increase level of demographic funding per additional student for the 2022/23 academic year. Through Budget 2023 we also secured additional funding of €32.2m to build capacity for up to an additional 4,125 students. This significant allocation of public resources is a clear demonstration of the Government's commitment to meeting the funding needs of the higher education sector in order to more fully realise its potential in contributing to economic and societal priorities which are central to this country's long-term sustainability.