Emergency funding of €5 million given to IT Tralee in 2019 has still not been scheduled for repayment.
Minister for Higher Education Simon Harris gave an update on the status of the payment, which was given to the IT to ensure the financial stability of the institution.
He was responding to a parliamentary question from Independent TD for Waterford Matt Shanahan.
The Higher Education Authority told Radio Kerry in August last year that the terms of repayment of the funding were under consideration by the department.
The HEA and the Department of Further and Higher Education gave IT Tralee, now the Kerry Campus of the Munster Technological University, €5 million in emergency funding in August and September of 2019.
This was, according to the Department of Education, to ensure the financial stability of the college.
Whether this amount was to be repaid or not was to be considered after the approval of a sustainability plan for IT Tralee.
Minister Simon Harris told the Dáil that this plan was approved in April 2020, and included measures to reduce the college’s cost base and increase income.
This was through actions including additional apprenticeship blocks, increasing student numbers, and lifelong learning course uptake.
Minister Harris said attempts to secure a resolution to the college’s financial difficulties could create a burden that would undermine the financial stability of the MTU.
He said that given the position and development of the MTU, the emergency funding of €5 million has not been scheduled for repayment to date.
Minister Harris added the matter is under regular review by the HEA and the Department.
