It depends on the context. If you're a domestic student from out of province and you don't have a local safety net, yes, you are eligible for some NSERC or other tri-council grants. It takes pressure off them. In order to have a residence space.... They're sure that it's high-quality housing, that it's available to them and that it's not going to increase for the duration of their lease.
For international students, I think it's even more important, because we are not requiring a credit check. We are allowing them to have access to this high-quality housing without going through something a typical landlord would do, given that they have a unique relationship with us, as students.