The University of Windsor has reacted positively to the news from Queens Park regarding a major funding initiative for colleges and universities.
On Thursday, Ontario Finance Minister Peter Bethlenfalvy and Nolan Quinn, Ontario Minister of Colleges, Universities, and Research Excellence and Security (MCURES), unveiled a $6.4-billion investment spread over four years to enhance postsecondary education. The province will also boost its annual operational funding to $7 billion.
Additionally, the province announced that the current freeze on tuition fees for postsecondary education will come to an end on September 1. Publicly funded colleges and universities can raise tuition by up to two percent each year until the 2028-29 academic year, followed by increases of either two percent or the average inflation rate over three years, whichever is lower.
U of W President J. J. Mc Murtry expressed his satisfaction with this announcement.
“We are grateful that the government has recognized that Ontario’s universities need support,” said Mc Murtry. “Increasing funding to the sector signals an understanding of the challenges facing universities.”
St. Clair College President Michael Silvaggi shares this optimism, stating, “this long term funding model and the accompanying updates to the tuition and OSAP frameworks provide stability for colleges and universities across the province.”
“These measures will help us continue delivering high-quality, career-focused education that meets labour-market demand and supports the economic growth of our region,” added Silvaggi on social media on Thursday night.
This provincial investment aims to help postsecondary institutions recover financially after seeing a decrease in international student admissions each year into Canada. Additionally, Ontario faces increased domestic demand for some of its more expensive programs.
The federal government set limits on new and returning international students starting January 2024. Since then, enrolment numbers have dropped along with revenue at Ontario’s universities and colleges; this has led to cuts in services, layoffs of faculty and staff, as well as suspensions or cancellations of certain programs.
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