Algonquin Faculty is projecting a $32 million lower in revenues as a result of new federal cap on worldwide college students and modifications to the eligibility for post-graduate work permits.
President and CEO Claude Brulé says worldwide enrolment shall be brief almost 2,400 incoming college students, and the faculty shall be pressured to make “tough budgetary selections now” to cope with the funding shortfall.
“To be clear, the federal government coverage selections which were introduced shall be with us for a while, and this may compound the monetary affect on the Faculty within the years to return,” Brulé mentioned in an open letter to Algonquin Faculty.
“It’s subsequently crucial to take measures and make tough budgetary selections now, understanding that some actions will take time to be absolutely applied and have the outcomes realized.”
In January, the federal authorities introduced a short lived two-year cap on worldwide pupil ranges by 35 per cent this yr. In September, the federal government introduced new worldwide pupil research permits shall be lowered by one other 10 per cent to 437,000 permits, with the goal persevering with into 2026. The federal authorities additionally introduced modifications this fall to post-graduate work permits, with the permits restricted to areas which have labour shortages in Canada.
Brulé says Algonquin Faculty’s 2024-25 second quarter projection report confirms worldwide pupil enrolment shall be brief by almost 2,400 incoming college students compared to the funds goal of seven,447 new worldwide college students.
An inside evaluate has decided that roughly 65 per cent of Algonquin Faculty’s packages have been deemed ineligible for post-graduate work permits for worldwide college students based mostly on Immigration, Refugees, and Citizenship Canada’s (IRCC) new standards, in line with Brulé.
“It is best to word that we proceed to vigorously advocate for modifications to those IRCC selections,” Brulé mentioned.
“We’re collaborating with provincial and federal authorities, in addition to post-secondary companions – together with Schools Ontario and Schools and Institutes Canada – to emphasise the numerous contributions our graduates present in all sectors of the economic system.”
Brulé says Algonquin Faculty want to see a “stage taking part in subject” for the post-graduate work permits.
“We all know authorities is in search of sure key sectors to draw worldwide college students into and we provide quite a few packages in these areas proper now that aren’t eligible for post-graduate work permits,” Brulé tells Ontario Chronicle Ottawa.
“Early childhood schooling just isn’t eligible, so we need to be sure we proceed to advocate to have these packages on the record so we are able to proceed to draw the proper variety of home and worldwide college students.”
Along with the brand new caps on worldwide college students, Brulé says the faculty continues to face “sustained monetary challenges” as a result of ongoing freeze on home pupil tuition.
“Because of these challenges, I’ve tasked the Faculty’s Govt Group to prioritize the wants of our learners and give attention to the Faculty’s monetary sustainability,” Brulé mentioned.
Algonquin Faculty says the present mitigation measures embody:
Deferring bills wherever sensible and cheap and lowering company expenditures.
Reviewing all hiring and staffing selections to make sure that solely roles which might be important to supporting learners and precedence wants are being processed.
We shall be taking a measured, truthful and clear strategy as a way to mitigate impacts on staff.
“To be clear, the federal government coverage selections which were introduced shall be with us for a while, and this may compound the monetary affect on the Faculty within the years to return,” Brulé mentioned.
Brulé tells Ontario Chronicle Ottawa the faculty will cut back spending to keep away from a deficit.
“We’re going to cut back non-essential spending the place it is cheap and is smart to take action. We will strategically allocate our assets to our core operations to that our learners aren’t affected,” Brulé mentioned.
Algonquin Faculty’s Worldwide Schooling Centre in Toronto has closed.
Within the 2024 fall time period, Algonquin Faculty had 20,980 college students, with 6,246 being worldwide college students.
With information from Ontario Chronicle supervising producer Stephanie Ha and Ontario Chronicle
