Students should be charged up to €5,000 in fees each year, according to a new expert report on third-level education costs.

The Cassells report, due to be published later this morning, will suggest three options to increase funding, including a “study now-pay later” system.

Reports say it is expected to call for either:

A State-funded system with the scrapping of the €3,000 college fees.

Increased State funding continuing with €3,000 fees.

Or, Increased State funding and a loans scheme.

They would get rid of upfront payments and introduce loans for fees of up to €5,000 annually.

The loans could be repaid by graduates once they hit a certain income level, but there are warnings they could saddle former students with debts of €20,000 long-term.