Reports show the Dublin college is raising prices of its student accommodation by 12% over the next three years.
Local Labour Senator Aodhán Ó Ríordáin has slammed the institution for the proposal, accusing them of "using the housing crisis as a way to make a quick buck".
Senator Ó Ríordáin said: "The housing crisis we are now facing is becoming a prevalent feature in Irish society and these student accommodation companies are exploiting this crisis to charge extortionate accommodation fees.
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"It is completely unacceptable to expect students and their families to pay between double and triple the annual college fee upfront for student accommodation.
"Labour's proposal for State-led developments would mean providing affordable student accommodation and would take the seasonal pressure off the rental market. Students should not have to spend their entire summer struggling to find an affordable option for accommodation but should be taking time to get ready for the academic year ahead. They, like all renters, deserve certainty of tenancy and affordability."
(CM/MH)
