Dáil Éireann Debate, Thursday - 19 October 2023
150. Deputy Richard Boyd Barrett asked the Minister for Further and Higher Education, Research, Innovation and Science the amount that has been allocated in Budget 2024 to student accommodation; the number of units this will supply; how he will ensure the affordability of this accommodation for students; and if he will make a statement on the matter. [45699/23]
View answerI am actively prioritising the supply and affordability of student accommodation, in recognition of the challenges our students are facing. Through “Housing for All”, the Government has approved development of policy and provision of funding to increase the supply of purpose-built student accommodation.
Student accommodation is a capital funding allocation which will be considered as part of the National Development Plan review. It was not considered during Budget 2024. To date Government has approved up to €61 million in funding to unlock up to 1,000 additional beds in partnership with our Universities.
In tandem, the Government has introduced measures to assist our students with the cost of accommodation. I recently approved an additional €440,000 to the Student Assistance Fund (SAF) specifically targeted at students who are experiencing difficulty with the cost or availability of student accommodation.
Budget 2024 provided for an increase in the tax credit for renters not in receipt of other housing assistance to the value of €750 per renter each year to end of 2025. The aim is to put money directly back in the pockets of renters. This credit is also available in respect to rent paid in both 2022 and 2023.
Eligibility for this tax credit has been extended to parents who pay for their student children’s Rent-a-Room digs accommodation. The credit is €750 per individual and €1,500 per jointly assessed couple for 2024 and 2025. This applies retrospectively to the years 2022 and 2023.
In Budget 2024, I have introduced further measures to assist with costs including; an increase to all non-adjacent maintenance rates by €615 and adjacent maintenance rates by 10% from September 2024. I have secured a full restoration of student maintenance grants for post graduates from September 2024 for the first time since the financial crash. Eligible students will see a pro-rata increase from January 2024.
Since 2016, over 14,000 purpose built student beds have been built, with further 7,029 under construction. This year sees an additional 938 University delivered beds available, with over 2,000 private PBSA beds due for completion this autumn.
