THE island’s students will pay towards tuition fees from September 2014, if Tynwald backs a proposal next month.
They will be asked to contribute a minimum of £2,500 a year towards their higher education.
A government-administered loan scheme to cover the £2,500 universal contribution would be available to ensure that students have the opportunity to continue into higher education. Repayments would start a year after graduation, provided that a student’s income has exceeded £21,000 a year.
The interest rate would be 5 per cent.
Students whose parents have an income of more than £80,000 would contribute more, on an incremental basis, with those with a parental income exceeding £100,000 being asked to contribute a further £6,500 a year towards course fees for most courses.
The additional contributions would be reduced for families with two or more children in higher education at the same time.
These changes are contained in the student awards regulations, which Tynwald is asked to approve annually.
More on this story in Monday’s Isle of Man Examiner