Patrick O'Donovan (Limerick County, Fine Gael)

As the Deputy will be aware, there is currently no borrowing framework in place for the technological university sector. Housing for All contains a number of key actions relating to student accommodation, one of which involves the examination of a borrowing framework and financing options for the technological universities.

The TU study is progressing in tandem with the standardised design study I referenced a while ago for student accommodation to enable a viable design model for State-supported student accommodation based on regional needs and feasibility assessments.

My Department is working with the sector to develop proposals for student accommodation. This work is progressing in tandem with an assessment of a range of funding and delivery mechanisms for student accommodation. We are also progressing large teaching and learning capital developments with the sector through Exchequer-funded supports. The impacts, risks and responsibilities arising from such funding and delivery mechanisms are key considerations in this context. Safeguards will be required to ensure that projects would not adversely impact the resources or financial position of technological universities, or the wider public finances. Stated requisite oversight, risk evaluation, project management and attendant governance and regulatory processes are essential. Any framework proposal would require approval by the Government.

The Higher Education Authority's output report and evaluation of the TU proposals is due this month. Work on shortlisted proposals will progress throughout 2024, with final options to be presented to my Department in quarter 1, 2025. Funding options, including but not limited to, a borrowing framework will then be considered.

It is anticipated that any borrowing framework, subject to approvals for the TUs, would in the first instance prioritise the provision of student accommodation in line with the commitments given in the Government's Housing for All plan.

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