Secondary enrollment rates which typically range from 40-75 per cent while high by developing country standards, are significantly below the average rates of 86 per cent observed in more developed countries. Government involvement is far lower in the tertiary sector (with the exception of Korea).
By as early as mid-2009, it was evident to close observers that the net long-term Exchequer cost (given the guarantee), inherently uncertain though it was, could reach € (I told an Oireachtas Committee as much at the time).