When determining the appropriate share of a possible grant element, the Commission, when preparing its proposal, should take into consideration the level of economic development of the beneficiary, as measured by per capita income and poverty ratios, as well as its ability to repay, drawing on debt sustainability analysis while ensuring that the principle of fair burden-sharing between the Union and other donors is respected.

Our party supports income contingent student loans that are repaid depending upon the level of income following graduation.

11. Is gravely concerned about the fact that, as at July 2009, 82 % of the newly loaned IMF resources had gone to European countries, and just 1,6% to countries in Africa, which is an indication that most of the available resources might be being devoted to high-income emerging markets and middle-income countries that are likely to be able to repay the loans they receive; stresses that the disruption of development processes has more destructive and lasting effects in the medium term for the least developed countries than those suffered by the most advanced countries during a limited period of crisis;

12. Is gravely concerned about the fact that, as at July 2009, 82% of the newly loaned IMF resources had gone to European countries, and just 1.6% to countries in Africa, which is an indication that most of the available resources might be being devoted to high-income emerging markets and middle-income countries that are likely to be able to repay the loans they receive; stresses that the disruption of development processes has more destructive and lasting effects in the medium term for the least developed countries than those suffered by the most advanced countries during a limited period of crisis;

11. Is gravely concerned about the fact that, as at July 2009, 82 % of the newly loaned IMF resources had gone to European countries, and just 1,6% to countries in Africa, which is an indication that most of the available resources might be being devoted to high-income emerging markets and middle-income countries that are likely to be able to repay the loans they receive; stresses that the disruption of development processes has more destructive and lasting effects in the medium term for the least developed countries than those suffered by the most advanced countries during a limited period of crisis;

A carefully instituted income contingent loan program would make university education more accessible. It would move more of the responsibility for the cost of university education on to the students themselves, albeit on a deferred basis.