8.24 The principles underpinning all public funding of education and training should be those set out in section five of our report. Public funding should aim:
8.25 Similarly, we believe that the principles informing access to public funds should be the same for part-time students as for full-time ones. We recommend that the Government move towards equalising public investment for the same 'episode of learning' irrespective of sector. As an initial step towards this, consideration should be given to moving towards a position in which student loans are made available on a means-tested basis to both part-time and full-time learners in further and higher education and for those over fifty. Plans could be made for such a policy to be implemented as soon as practicable, when the new system of funding full-time students in higher education has been implemented.
8.26 This would be in line with the principle of equity set out earlier, and is based on the evidence from London Economics and the Open University that the cost of this action in higher education would be relatively small. It also recognises that establishing a culture of lifelong learning will depend largely upon a huge expansion of part-time study in the years to come. We propose that early work be started on a study of the full costs and methods of funding such a move and that it be released for wide public consultation.
8.27 We also endorse the recommendation from the National Committee of Inquiry into Higher Education for a change in the national auditing convention, whereby loans are treated as expenditure rather than investment for national accounting purposes.
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