Rose Conway-Walsh (Mayo, Sinn Fein)
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518. To ask the Minister for Education and Skills further to Parliamentary Question No. 615 of 10 May 2022, if he will outline which section of the Higher Education Authority Bill 2022 as amended that will further the provision of Technical University borrowing and or deliver student accommodation; and if he will make a statement on the matter. [26055/22]

Simon Harris (Wicklow, Fine Gael)
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Section 130 of the Higher Education Authority Bill (as amended) amends the Housing Finance Agency Act 1981 to broaden the type of higher education institution to which the Housing Finance Agency can lend to, with relevant consents.

Enabling appropriate access to finance is one of the significant requirements for the delivery by higher education institutions of purpose built student accommodation.

On 3rd December 2021, the Minister for Housing, Local Government and Heritage confirmed that his Department had reviewed the Housing Finance Agency Act 1981, as amended, and was satisfied that the legislation in place was robust enough to allow the Housing Finance Agency to also lend, in addition to universities designated under the Universities Act 1997, to TUs, IoTs and other institutions encompassed by the definition of “Institutes of Higher Education” as set out in the Higher Education Authority Act 1971.

The reference in the HFA Act to the term ‘institute of higher education’ as defined in the Higher Education Authority Act 1971 has been amended by section 130 of the Higher Education Authority Bill to refer to the 2022 HEA Bill. 

However, in amending the HFA Act to refer to the 2022 HEA Bill, the type of institutions to whom the legislation facilitates lending by the HFA is being broadened. This change would include other  education institutions not designated under the remit of the HEA but who are in receipt of core funding through the public system.

Institutions, other than traditional universities, would require firstly my consent following consultation with the Higher Education Authority. This will necessitate the establishment of an appropriate framework setting out the criteria, financial and non-financial, including governance, oversight and reporting to define the operational process through which such consent would be sought and obtained.  Having passed those primary screening tests the prospective borrowing entity would then be required to pass the relevant tests, procedures and requirements of the HFA before accessing borrowing funds.

I am confident, therefore, that there will be robust and adequate systems in place to ensure any proposed borrowing is rigorously examined to protect both Exchequer funding and HEIs themselves.