Robert Troy (Longford-Westmeath, Fianna Fail)
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223. To ask the Minister for Education and Skills if he will provide an update on changes to the borrowing framework for technological universities. [32859/23]

Simon Harris (Wicklow, Fine Gael)
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In November 2022, the Government confirmed approval for a new policy led by my Department, to provide State assistance to stimulate the development of new and additional student accommodation for public higher education institutions. This landmark policy response will, for the first time, see the State providing financial support in the construction of student accommodation, and underpins the policy commitments set out in Housing for All.

Investment of €1m in 2023/2024 has also been announced to support the TU’s in conducting activation feasibility assessments to ascertain student accommodation needs in campus locations. This will include data led projections of demand and engagement with local authorities to examine potential vacant stock.

Department officials and I have had continuous engagement with the sector in relation to the feasibility study. On the 22nd of June I announced the commencement of phase one of this study as part of the Governments’ commitment to support TUs in the development of student accommodation strategies.

The Housing Finance Agency Act 1981, as amended, facilitates lending by the HFA to institutions of higher education, including TUs. My Department and I are working with relevant Government Departments and Agencies to explore the development of a specific borrowing framework for the Technological University (TU) sector. The options arising from the TU feasibility study will inform this ongoing engagement. It is anticipated that any borrowing framework would in the first instance prioritise the provision of student accommodation in line with commitments in the Government's Housing for All plan.