Dublin students have been left outraged over a decision by university bosses to increase campus rents by 4% annually for the next three years.

The UCD students union has called for an immediate reversal of the decision from the university management team.

There has recently been 1,000 new student bedrooms built, with some of the highest rents costing €1,000 per month.

According to the SU, the on-campus student accommodation is the highest in the country.

Joanna Siewierska, President of UCD Students’ Union said: "It is shocking to see Ireland’s largest, public university use student accommodation to make a profit, and do nothing to help students manage the crippling rents in Dublin.

"Students are already being locked out of education by the housing crisis. We are seeing fewer and fewer students from outside of Dublin choosing to study in UCD, and little or no increase in students from lower socio-economic backgrounds coming to our University. This decision by UCD Management shows that they don’t care about this reality. 

"We are pleading with those seeking election to prevent our public education institutions from taking advantage of students in this manner; it is unacceptable."

She continued: "UCD is using rents on campus to raise funds to build further extortionately priced accommodation. It is a clear sign that UCD is only interested in recruiting students who can afford to pay incredibly high rents to attend it, or become crippled by debt.

"This does not meet the needs of the vast majority of young people and families in Ireland. This does not reflect the ethos or goals of a public education.

"The University Management Team is a small group of UCD Senior Management, which have made this decision with zero consultation with UCD students.

"Their action is a symbol of their utter disconnect from the student experience and profit-driven decision making mindset. The welfare of students and ensuring access to education for all is a secondary concern, at best."

In a statement to Dublin Live, a spokesman for UCD said: "UCD has announced that for the next three years it will implement the new Residential Tenancies Board (RTB) rent increase cap of 4% per annum in order to secure adequate funding for the maintenance of existing on-campus student accommodation and the provision of 3,000 new beds; 924 to come on stream in September 2020.

"Outlining the need to increase the rents, UCD said it is conscious that while the new legislation allows reductions or discount rents, increases are capped at 4% per annum. 

"Consequently, in light of its commitment to providing on-campus accommodation, the University has announced the 4% increase for the next three years, after which it will review the rents, and reduce the increases or even freeze them, if financially possible.

"This 4% increase translates to a rent per week for on-campus residences for the academic year 2020-2021 of between €162pw and €229pw, depending on the residence.

"The University is currently constructing new residences and a student village.  This development is costing in the region of €500m and is funded largely through bank loans.  These new residences will command a higher rent averaging €257 per week for 38 weeks.

"UCD points out that the University funds specific services to support students living on campus, including duty managers who are on call 24/7, pastoral care, and social and amenity services."