Low interest loans expected to deliver up to 2,700 new student beds as Trinity moves to freeze rents amid affordability concerns
Low-interest loans expected to deliver up to 2,700 new student beds as Trinity moves to freeze rents amid affordability concernsThousands of student beds due to be built by universities with access to State funding and low-interest loans must be provided at “below market rates”, Minister for Higher Education Simon Harris has said.between the European Investment Bank and the Housing Finance Agency aimed at delivering up to 2,700 student beds.
In addition, he said taxpayer funding was being made available to universities to help bridge the affordability gap in undertaking to build new student accommodation. “Every student bed we create has a double benefit. It helps the student and their family, but it also frees up private rental accommodation in our cities and towns. This investment by the EIB and Housing Finance Agency will have significant benefits for access to education, and crucially to the wider housing market.
“The EIB backing will reduce financing costs for universities and enable lower monthly rents for students living in new accommodation,” he said. A source said the decision to freeze rents was taken in light of affordability concerns for students despite the fact that college accommodation was running a significant financial deficit due to the cost of upkeep and renovation.at Trinity College Dublin in protest over a 2 per cent rise in accommodation prices on campus. Around 30 students blocked the entry to the tourist attraction, with placards stating “students not cash cows” and “freeze rent”.
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