The President of Maynooth University, Professor Philip Nolan, has said that college fees need to be increased by at least €2000, but that the cost should be split evenly between students and the Government.


Calling it a price regulation, Prof Nolan said that it would ensure universities wouldn’t exploit the proposed loan scheme by driving fees too high, according to the The Irish Independent. Fees currently stand at €3,000 a year.



"We are spending about €2,000 a year less than we should be - we need to be spending about €9,000," he said, before explaining that he would like to see an increase from €3,000 to €4,000 in the student contribution, and a rise from €4,000 to €5,000 in the State spend per student.


Claiming the scheme which would see the State covering the cost of the college fees upfront - with graduates paying it back once they hit a particular earnings threshold - the professor said that it would relieve parents from having to pay any fees.


“People may then disagree with it, but it would be a disaster if people were reacting to an incomplete idea or to an inaccurate perception of an idea,” Mr Nolan said. 



“It would very negative if fees in our system were to reach UK levels and extraordinary if they were to reach levels that we see in some US universities.


“It is essential to the success of this proposal in Ireland that there is proper regulation of undergraduate fees, similar to the way in which energy regulator operates.”


What do you think? Are you on board with the idea of a loan scheme?