January 29th 2024, Ottawa - Today, The Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities has announced that post-secondary institutions will be eligible for low-cost loans through the recently expanded Apartment Construction Loan Program. Since July 2023, when student leaders at the Canadian Alliance of Student Associations (CASA) set student housing as a major advocacy priority, students across the country have been advocating for more funding to be made available for on-campus and off-campus student housing.
CASA has long recognized that student housing plays a significant role in the housing markets of communities in which post-secondary institutions reside. The policy announced today is directly aligned with a CASA recommendation shared with the Minister's office and with the House of Commons Standing Committee on Finance earlier this month. CASA’s full submission to the Committee can be found here.
“Today’s announcement is much-anticipated news for students who are struggling to find adequate housing options throughout their studies. We thank the Minister for listening to the many national conversations happening recently on how students – both domestic and international – are impacted during this ongoing housing crisis. We welcome this announcement as an important step in unlocking the potential that post-secondary institutions have to cool the housing market for current and future students,” said Wasiimah Joomun, Executive Director of CASA.
CASA and students across the country see this loan eligibility change as a positive first step in addressing the rising cost-of-living for students, and hope institutions can make use of this funding to address the ongoing housing crisis. CASA looks forward to continuing its push for more federal action in Budget 2024 to support accessible, convenient, affordable and quality housing options and educational experiences for post-secondary students.
Established in 1995, the Canadian Alliance of Student Associations is a non-partisan, not-for-profit national student organization composed of 25 student associations across the country. Through our partnership with the Quebec Student Union/Union étudiante du Québec, CASA represents 365,000 post-secondary students across Canada.
Canadian Alliance of Student Associations
Communications and Creative Content Officer