Ontario gets $1.3 billion in funding to ‘stabilize’ post-secondary institutions

Image source: @JillDunlop1/Twitter

In a move to “stabilise” post-secondary institutions, Ontario’s colleges and universities minister said the province will set aside $1.3 billion over the period of three years.

 

However, the province will continue to keep the tuition fees frozen for at least three more years. 

 

Ontario’s colleges and universities minister Jill Dunlop said that the government $903 million over three years into a new Postsecondary Education Sustainability Fund.

 

Some of that money will be kept aside for institutions with most financial needs. The remaining funds will go to capital funding, few STEM program costs and research and innovation projects along with other initiatives.

 

Earlier in November, a government-commissioned report stated that low levels of provincial funding to colleges and universities combines with a tuition cut and freeze in 2019 are creating significant threat to the financial sustainability of the entire sector.

 

This expert report had recommended a one-time increase of 10 per cent in per-student funding to colleges and universities followed by inflationary increase the the years that follow. The report also recommended another five per cent increase in tuition along with an “equally generous” increase to the student aid.

 

But, on Feb. 26, Dunlop reportedly said that a tuition freeze which is put in place since 2019, will stay at least till 2026-27, which is the same year when next provincial election. 

 

On Monday, Dunlop introduced a legislation that would require the colleges and unisversities to inform students about the ancillary fees and other costs such as textbooks. Moreover, the bill would require institutions to have mental health and wellness supports policies in place. 

“It’s never been more important to keep costs down for students and parents,” said Jill Dunlop, Minister of Colleges and Universities. “Instead of burdening hard-working families with higher tuition, we’re making historic investments to stabilize colleges and universities. We’re taking action to make fees more transparent. We’re supporting student mental health, fostering safer campuses and preparing students for rewarding careers.”

 

Funding for full-time domestic students at publicly supported colleges in Ontario ranks the lowest compared to all other provinces. Additionally, the Council of Ontario Universities reports that at least 10 universities are dealing with operating deficits.