Funding mechanisms for institutes of technology to support the development of their student accommodation capacity

QUESTION

To ask the Minister for Education and Skills the status of plans to establish funding mechanisms for institutes of technology to support the development of their student accommodation capacity.

REPLY

Funding provided to the Institute of Technology (IoT) sector currently impacts on the General Government Borrowing (GGB).  Borrowing for capital development, including student accommodation, is included in the State’s balance sheet and therefore impacts on the Government’s available fiscal space.  The National Student Accommodation Strategy includes actions to explore, with the sector, an off-balance sheet solution to allow IoTs to access funding for the development of purpose built student accommodation.  
The IoT sector is examining with the Department of Education and Skill and the assistance of the NDFA options to progress the provision of student accommodation for the technological sector on this basis.