The Central Admissions Office (CAO) will be disseminating its first round of offers on Wednesday, keeping over 83,000 students in anticipation. Based on last year’s trends, approximately half of them will secure positions at higher education institutions for their preferred programmes, while the rest will settle for options that didn’t top their list.
Once the academic term commences, these students will transition to the next phase of their life, which undoubtedly brings exhilaration and prospects. However, adequate funding is still a major issue. The tertiary education system continues to grapple with severe underfunding, despite a consistent rise in enrolments over the years, paralleled by a dwindling investment. Studies conducted by the European Commission in 2022 pinpointed €307 million shortfalls in the sector’s annual €1.6 billion budget.
In response, the government released a report in May 2022 named ‘Funding the Future,’ vowing to bridge this financial gap. Fast forward two years, only a modest increase of €106 million in core funding is observed as per the Department of Higher Education’s data. The education institutions claim this fund majorly addresses public sector pay awards and the heightened student intake.
A beacon of hope was seen in the ascension of Simon Harris to the top government position. The former Minister for Higher Education was perceived to be supportive of resorting to the National Training Fund (NTF), which currently has an extraordinary surplus of €1.5 billion, in order to alleviate the tertiary education funding shortages. The NTF aims to assist in training employment seekers and those already employed. Both employers and universities mutually agree that this fund could potentially support apt third-level courses. Nevertheless, apprehensions regarding the effects on public spending targets are hindering this initiative’s progress within certain government sectors.
As the 2025 Budget is being formulated amidst an impending election, there may not be a more opportune time for Harris to tackle the issue of inadequate funding for tertiary education by tapping into the surplus of the NTF. However, signals suggest that Harris will opt for his previously favoured method – temporary fee cuts and increased grant support. While this may be welcomed by students and their caregivers, it does not tackle the core issue of insufficient financing.
Such a strategy is essentially myopic. The value of facilitating entry into tertiary education gets compromised if the quality is allowed to deteriorate. Also, the repercussions on the broader economy and the career opportunities of graduates cannot be ignored. Higher education plays a crucial role in maintaining competitive edge, therefore, failure to invest adequately may lead to long-term financial implications.