Economy Minister Conor Murphy announced funding would be provided to create more undergraduate places.
More undergraduate student places have been announced for Ulster University's campus in Londonderry.
The SDLP's Sinéad McLaughlin welcomed the announcement, but says 150 students included in that 500 figure are already at the campusIt stated that both the UK and Irish governments would aim to financially support the 10,000 student number expansion target.
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