Minister presents option of 10-year student-loan repayments

Monday, 21-05-2012

You are here: Home > Education Articles > Daycourses.com News > Minister Presents Option Of 10-year Student-loan Repayments

Posted on 2009-07-14 in

Minister presents option of 10-year student-loan repayments

Minister presents option of 10-year student-loan repayments

A new scheme could see students having to pay off loans of at least €21,000 for their third level fees.

Loans to cover fees would be advanced to the students who would then repay them over a 10-year period when they take up employment after graduation.

The proposal is one of five options given by the Minister for Education Batt O'Keeffe to his Cabinet colleagues.

The options examine a range of grant and fee combinations aimed at cutting the cost of third level to the exchequer without pricing it beyond the range of students.

UCD students' union condemned the proposal for the 10-year loan repayment scheme, saying it would lower participation in third-level education by students from lower socio-economic backgrounds.

"This would financially cripple young graduates, at a time when they need to become active members of society - to buy houses, to start families, to help aid the economy," the union said.

Cabinet members are expected to consider the options over the summer with the Minister to make a recommendation on the preferred option in September.