The Liberal Vannin party wants the government to cover more student costs.

The party has set out its views as Tynwald’s public accounts committee examines the student awards scheme.

It proposes that the government consider giving students who get a place in higher education a student award to cover the cost of all fees, together with an agreed annual maintenance allowance for the duration of their course.

The party says 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,’ a spokesman said.

‘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.’

It says that interim schemes should be available to students who get a place in higher education off-island They 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 three 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 says it will continue to argue for the first option above as a policy commitment for future general elections.