Tynwald’s Public Accounts Committee is seeking views on the Government’s Student Awards Scheme
Liberal Vannin proposes that the Isle of Man Government considers the following:
Students successful in obtaining a place in higher education should be eligible for an Isle of Man Government Student Award to cover the cost of all fees, together with an agreed annual maintenance allowance for the duration of their course.
This would be seen as a major benefit by families considering relocating here, thus contributing to the aims of the Island plan. It also demonstrates our commitment to supporting our young people in their aspirations and how highly the Island values education.
Liberal Vannin considers this to be a high priority for government expenditure, but recognises that there are many competing demands and would therefore be prepared to support an interim Student Award Scheme, as follows:
Students successful in obtaining a place in higher education off-Island should be eligible for an Isle of Man Government low interest loan to cover the cost of all fees, together with an agreed annual maintenance allowance for the duration of their course.
The loan would be repayable over 25 years following completion of the course, but would be written off, should the recipient return to the Isle of Man for a period of paid employment of 3 years or more.
Students taking higher education courses at UCM should have all fees paid, but would be required to reimburse the government, if they leave the Island for employment elsewhere within three years of completing their studies.
Liberal Vannin will continue to argue for the first option above as a policy commitment for future general elections.