Algonquin Faces Major Financial Struggles
Claude Brulé, president and CEO of Algonquin College, mentioned in a notice on Jan. 9 that limits on international student enrollment and shortfalls in provincial funding have created “unprecedented financial challenges” for colleges across the board. Brulé stated that staff have been examining the school’s operations and estimate Algonquin will lose $32 million in revenue this fiscal year. Without steps to address this issue like closing its Perth campus, Brulé indicated on a cash-flow basis that the college expects a deficit of $60 million for 2025-26, which could rise to $96 million for 2026-27.
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Get the day’s top news, political, economic, and current affairs headlines delivered to your inbox once a day. “These are the most challenging fiscal times in the college’s history. I understand how morale is being negatively impacted and employees and learners may be feeling concerned and anxious as they await updates,” Brulé said. “These decisions are being carefully considered with a focus on minimizing impacts on employees and learners while maintaining our commitment to providing exceptional learning experiences for years to come.” Story continues below
2:15 universities’ and colleges’ growing deficits layoff concern unions across country
Around a year after Canada capped international student numbers coming into schools here; many colleges announced major changes or suspended programs citing reliance on those students for funding as their reason.
This cap has caused nearly a 50 percent decrease in admissions at Ontario colleges along with a drop of $752 million in operating budgets across different campuses.
Sheridan College-one of Ontario’s largest post-secondary institutions-suspended 40 programs back in November 2024. Seneca College also announced it would temporarily shut down its Markham location due to an enrolment “decline.” At Mohawk College about 20 percent of administrative staff were let go while 16 programs were put on hold for 2025.
A representative from Colleges and Universities Minister Nolan Quinn told last month though that they still believe strongly in public colleges-and their role training future graduates.
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The province is currently focused on ensuring post-secondary programs help Ontario students land rewarding jobs addressing both current needs within labor markets now as well as future ones,” they said.
“Our post-secondary sector is going through rebalancing right now which means some tough decisions must be made by schools so they can continue providing world-class education here.”
Algonquin A ‘Cornerstone’ For Perth: Brown
Algonquin Will Do What It Can To Reduce Impacts On Employees And Students At Perth Brulé Said The Recommendation To Close The Perth Location Will Be Tabled At The School’s Feb.24 Board Of Governors Meeting.
“Programs At The Perth Campus Will Remain Active Until The End Of The Spring Term In 2026 By Which Time They Will Transition Over To Ottawa Campus,” Brulé Said.
“The college plans to finalize this transition ceasing operations at Perth Campus By August Ending August In Two Thousand Twenty-Six.”
.< Brown Stated That Town Is Disappointed With Algonquin’s Departure Calling It A Cornerstone Of Community. Brown Added While We Understand Fiscal Realities Faced By Algonquin Including Frozen Tuition Fees Funding Gaps And Declining International Student Enrollment Due Recent Federal Provincial Changes We Will Deeply Feel Loss These Programs And Campus Whole. With Files From Isaac Callan Colin D'Mello.. More On Canada More Videos ©2019 Ontarion Chronicle A Division Of Corus Entertainment Inc.
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