The Hunt Report states that the
annual funding requirement for higher education in Ireland is
€1.3 billion. This funding would need to rise to
€1.8 billion in 2020 and €2.25 billion by 2030 in
order to continue to meet current demands. Given that the
Department of Education and Skills projects that the demand for
places in higher education is set to continue to rise, where will
this money come from?
The Report found that, given the
combination of low levels of private investment, high levels of
anticipated demand and constraints on the public finances, a new
approach to funding was required. A requirement for students or
graduates to directly share in the cost of their education,
reflecting the considerable private returns that they can expect to
enjoy is the only realistic option. Dr. Hunt's Committee makes
the case that those who can afford fees should be asked to make a
contribution. That contribution should come through an income
contingent loan scheme, allied
