Ontario’s colleges and universities are getting some fresh funding.
A new financial plan will allow the province to invest an extra $6.4 billion over the next four years, while raising annual operating funding to $7 billion starting this fall.
Colleges and Universities Minister Nolan Quinn claims this represents a 30% boost.
“This historic long-term funding model will sustain the sector for generations to come, supporting world-class research and ensuring Ontario students will always graduate ready to protect Ontario’s economy, no matter what we may face,” says Quinn.
Quinn also mentioned that the funds will help add over 70,000 students in high-demand areas like STEM, healthcare, and teacher education.
In addition to the new funding formula, the province is ending a seven-year tuition freeze.
Colleges and universities will be allowed to increase tuition by 2% each year for the next three years. After that period, they can raise fees by up to 2% or according to the three-year average inflation rate, whichever is lower.
Quinn explains that it became necessary to lift the freeze due to the federal government’s decision in 2024 to limit foreign students wishing to study in Canada.
“Since we’ve frozen tuition in 2019, the average tuition rates across Canada have gone up 18 to 41%. Understanding the sector has changed, we want to ensure sustainability for future generations,” says Quinn.
The minister believes that even with these increases, tuition fees will still remain among the lowest in Canada and comparable to those paid by students in British Columbia and Manitoba.
Changes are also coming for the Ontario Student Assistance Program (OSAP).
Students will now be able to receive a maximum of 25% of their funding as grants; the rest will come from loans.
Quinn points out that recent changes made by the federal government regarding student grants forced Ontario to respond accordingly.
“This decision, along with a recent increase in uptake of OSAP, has created a $2.3 billion pressure on our system. With no action, this pressure would decimate OSAP, making it unavailable for future generations.”
The province plans on negotiating an enhanced Student Access Guarantee (SAG) with institutions so low-income students can receive extra support for tuition costs as well as books and mandatory fees if OSAP does not cover everything needed.
If you attend private colleges now, you won’t be eligible for OSAP funding anymore.
Randy Thoms is a veteran news broadcaster with over 40 years’ experience. He is based in Fort Frances and covers stories across northwestern Ontario. Contact Randy at thoms. randy@radioabl. ca.
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