To ask the Minister for the Economy for an update on the increase in the Universities Hardship Fund and Student Support Fund in Northern Ireland, to ensure it is in line with other parts of the UK.

Higher education students who are experiencing genuine financial hardship can apply for additional financial help through Support Funds. The Funds are administered on my Department’s behalf by the five higher education institutions in Northern Ireland and each institution is responsible for assessing students’ needs and issuing support.

In academic year 2021/22 a total of £4,809,000 has been made available to the local higher education providers in Northern Ireland. As of 30th April 2022, approximately £3,566,000 had been awarded to students.

Similar schemes are in place across the UK, with each administration providing support to meet the needs of its own student population.

I remain committed to ensuring that the Support Funds made available by my Department continue to meet the needs of our student population. Officials from my Department closely monitor the demand for this support and the current budget allocated to the local institutions is currently sufficient to address demand.