A new loan scheme being proposed could see students left owing 20 thousand euro once finished college.

The report from an expert group aims to address the current college funding crisis, including a plan to study now and pay later.

The Irish Independent says it proposes loans of up to 5 thousand euro a year for college fees, which would be repaid once the student is working and earning above a certain salary.

The report warns the college system is 'severely threatened' by the current funding shortage, and says the number of course places needs to be boosted by a third over the next 15 years.