The President of Algonquin College says early estimates suggest the college could take a $9 million hit to its bottom line next school year, on the heels of the Ford Government’s 10% tuition cut.
“At this time, we estimate that the 10-per-cent decrease in tuition will result in a nine-million-dollar shortfall to the College. We will assess the situation in more detail in the coming days,” Cheryl Jensen said in an open letter to staff and students.
“We will continue to work with the government to find ways that they can assist us to help them achieve their priorities. We will also collaborate to ensure that our learners acquire the hands-on experience that will be essential in future economies.”
Jensen adds she will work with the Students’ Association with regard to fees for campus services and clubs.
“New choices for students regarding those fees will likely mean some changes,” Jensen said.
Colleges, Training, and Universities Minister Merrilee Fullerton announced the changes to the provincial tuition framework Thursday, which included a 10% cut to tuition fees in the 2019-2020 academic year, a new policy allowing students to opt out of having to pay fees for certain campus services and activities, and changes to OSAP.
Other local institutions did not give a dollar estimate to any potential revenue lost from the tuition cut, but said they remain committed to their students.
“Our objective has been and will continue to be to provide high quality educational experience to our students in order to develop the skills and talent required to respond to the rapidly changing needs of a global workforce, while improving our financial management,” University of Ottawa Provost and VP of Academic Affairs David Graham said in a statement.
A statement from Carleton University echoes those sentiments.
“The university’s priorities will continue to focus on our students, including measures that can increase access to post-secondary education and services that enrich the experience for all students and supports their success. Carleton will adjust its budget with the goal to minimize possible impacts on our academic mission.”