The review criticised the College's school funding system, with the school currently operating on a zero non-pay budget.
Cassells, speaking at the Oireachtas Education and Skills Committee, said that a return to the status quo would create 'deep costs' for students.
Announced today, the new loan to Trinity from the European Investment Bank is part of the largest investment ever in Irish education by the bank.
Consultations are to begin wth Heads of Schools for the replacement of TSM by 2018-2019, with the possibility of including subjects like law and business with new combinations.
A new subsidary company, Trinity Brand Commercial Services, will sell Trinity-inspired products internationally, with a projected yearly turnover of €25 million.
Supposed to be installed by the end of summer, the four new toilets have been promised to be ready by the end of the week.
After a campaign led by Fossil Free TCD, Trinity is to divest from its €6.1 million indirectly invested in fossil fuel companies.
It is hoped the name change will reflect the interdisciplinary nature of the school, as well as improve the student experience.
The prestigious organisation's membership now consists of 23 of the best European universities, with today's event marking the importance of Trinity's research.
Scientists working in the TBSI have found a cure for potentially fatal disease found in sub-Saharan Africa, caused by parasites and spread by flies.