A new survey, coming amid the yearly concerns over the student accommodation crisis, has found that nearly 60 per cent of parents surveyed would consider supporting a student loan scheme to pay for higher education.
The findings, from a survey of 1,280 adults carried out earlier this year by Red C on behalf of insurance company Aviva, found that 48 per cent of parents surveyed said that loan schemes were worth exploring as an option, with 25 per cent claiming loans would be a good idea.
Many Irish political parties, including Fianna Fáil, have expressed scepticism in the past about the merits of an income-contingent loan scheme – one of three options set out in a landmark report on higher education funding published in July.
In a press statement, Ann O’Keeffe, head of individual life and pensions at Aviva, said: “It’s not surprising that parents want to explore all options for funding higher education, including the option of a student loan system. But whatever the outcome of that debate, education will continue to be a big item in the family budget.”
While the funding report, published in July 2016, set out three options for the sector, a loan scheme was the only option parents were asked their opinions on in the Aviva survey. The survey, which gave respondents little information on what such a loan scheme would look like, also found that 20 per cent of parents surveyed rejected the idea of a loan scheme.
Other significant figures to appear in Aviva’s Cost of Education report included that, on average, parents will pay €5,122 to send a child to college for a year. This figure nearly doubles when a child moves away from home. Those surveyed, the report said, came from a representative sample.
For months, universities and students’ unions have been calling for a decision to be made on a new funding model, even if the two are split on what that model should be. University presidents, who support a student loan system, have long expressed frustration at the political system for “kicking the can down the road” on the issue.
The findings show that, while student loan schemes have faced criticism in recent months, as well as stern opposition in the UK from the Labour Party, many parents have yet to be won over in a debate that has only slowly become a significant political issue.
