A NEW report has concluded that the higher education system is facing a funding crisis and recommends that a new student loan scheme be introduced.

The government-commissioned report by Dr Colin Hunt recommends that students “contribute to the cost of their education” by taking out student loans.

Under the recommendations of the report, students would be able to secure a loan to cover the cost of tuition fees in a similar manner to the student loan system in the UK.  Students would begin making repayments after graduation, once they have secured employment and had reached a particular pay threshold.

This would mean that new graduates would enter the workforce with significant debts. Currently, the state covers the costs of tuition in Ireland.

There will an expected increase of 30% in student numbers over the next ten years.

Minter for Education Mary Coughlan has ruled out an increase in the student registration charge this year, which now stands at €1,500. However, it is possible that this charge could increase in 2011.

Other recommendations in the Hunt report:

• The country’s 14 institutes of technology could changed into technology universities – subject to strict quality assurances

• Part-time and full-time students would have the same entitlements, meaning that both would be eligible for maintenance grants and not obliged to pay fees

• A new workload management system would be introduced and closely monitored in both universities and institutes of technology

• Closer collaboration is recommended between centres of eduction to help create “clusters’’ of excellence

• An expanded role be considered for the Higher Education Authority in managing the sector and linking spending to national objectives

Yesterday 8,000 students received their Leaving Certificate exam results.