€25 per week payments over 15 years proposed for college students

College graduates could face loan repayments in the region of €25 a week over a 15-year period under major reforms to third-level funding proposed in a Government-commissioned report.

Under the system, college would be free at the point of access and graduates would begin to pay back tuition fees once their income reaches a minimum level.

The expert group recommends that interest should be charged on State-backed student loans at a rate lower than the cost of commercial borrowing to allow for "very affordable" repayments.

However, the report does not make a final recommendation on the cost required of graduates on the basis that further analysis is required, but the figures would vary depending on students' future income levels.

Students who earn below a certain amount - because they are in low salary employment or life stages which limit their access to work - would not begin repayments until their circumstances change.

Wealthier students would be able to pay back their tuition costs up-front.

The income-contingent loan system would apply to undergraduate tuition fees, plus one year for changes in circumstances.