TRU East Village dorm (image credit - CFJC Today)

By Michael Reeve

STUDENT HOUSING

Benefits of new federal loan program remain to be seen for TRU

Jan 31, 2024 | 12:30 PM

KAMLOOPS — This week the federal government announced that, beginning this fall, post-secondary institutions will be able to apply for low-interest loans to build student housing. The loan program will have $40 billion available for universities.

While the program is a positive move, TRU has been successfully working with the provincial government to build out more student housing in Kamloops.

“The province has actually been really good. Since 2018 they launched a housing funding program, we borrowed $25.5 million from them in 2018 to buy East Village,” said Matt Milovick, TRU VP of Administration and Finance. “In the discussion for the next building, it’s ether loan or grant or some combination of it. Our provincial government has been pretty good about that, so whether or not we need or should take advantage of the federal loan, it’s too early to say. I would like to take some guidance from the province on that one.”

Locally, Thompson Rivers University recently completed a new modular dorm building in the campus’ East Village. Milovick noted the university is in the final steps of finalizing an additional new dorm on that same parcel of land.

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“I’m really proud of TRU. We are in a really good shape. Our international office connects with students making sure they have a place to live. Right now, we have about 1,650 beds that we operate, we have about 20 vacancies, which is pretty good. Anybody who needs a place there is a place right now. I think we have done a great job, couldn’t have done it without the provincial support for some of the things that we’ve done but we are in a good spot and I think our students are in a good spot,” added Milovick.