Dáil Éireann Debate, Tuesday - 14 July 2026
940. Deputy Donna McGettigan asked the Minister for Further and Higher Education, Research, Innovation and Science his view on the sustainability of the HEIs to have borrowing levels in excess of €1.2bn in September 2025; and if he will make a statement on the matter. [53569/26]
View answerAs the deputy will be aware the borrowing levels referred to relate to borrowing in the seven traditional universities. Under section 38 of the Universities Act 1997, the seven traditional universities have legislative autonomy to borrow monies. Such borrowings are in accordance with an agreed borrowing framework.
The intent of this framework is to enable universities to undertake borrowing, underwriting and guarantee arrangements where these do not give rise to any risk to the Exchequer and do not compromise any particular university’s capacity to fulfil its functions. Universities are required to report details of their total borrowings to the Higher Education Authority on an annual basis.
I have been advised that universities continue to support the principle that they should have the ability to borrow as part of their legislative autonomy to manage their own affairs. Any such borrowing must, of course, be undertaken within an appropriate governance and accountability structure to ensure institutional sustainability and to protect the interest of the Exchequer.
The HEA ensures public confidence and value for money by overseeing governance and accountability frameworks at designated higher education institutions. While these institutions retain autonomy and responsibility for their own performance, they are further scrutinised by external lenders conducting due diligence and public audits by the Comptroller and Auditor General.
