Ministers will back a significant increase worth hundreds of millions of euro in additional funding each year to secure the third-level sector.
The government is due to provide more funding for third level education.
However, annual student contribution fees of €3000 won't be cut immediately.
The issue of third level fees and investment has been ongoing since 2016, when a report warned the then government it would need an additional 600 million euro a year by 2021 to fund higher education, rising to 1-billion euro extra a year by 2030.
The Cassells report said the additional investment was needed due to a growing younger population and to reduce student - staff ratios in lecture halls.
The Minister for Higher Education, Simon Harris, will bring a memo to cabinet later, which would seek approval from his government colleagues to increase funding to help families with the cost of college, as well as grant reforms to allow part-time students access funding.
President of the Union of Students in Ireland, Clare Austick, says the student contribution charge needs to be abolished immediately:
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