2024 Pre-Budget Submission: Investing in Universities is Investing in Students and Ontario’s Future

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2024 Pre-Budget Submission:
Investing in Universities is Investing in Students and Ontario’s Future

Ontario’s universities are driving jobs and growth in communities throughout Ontario.

By supporting students, fueling the talent pipeline and driving community economic development through research, innovation and commercialization, universities play a critical role in making Ontario a globally competitive economy that continues to attract investment.

However, after more than a decade of declining provincial grants, increasing demands on universities and a cut and freeze to tuition, Ontario’s universities are at a breaking point.

Without government investment, Ontario risks compromising the high-quality education, services and experiences our universities provide, limiting the boundless potential of Ontario’s students. Investing in universities is investing in students and our future.

Read the 2024
Pre-Budget Report

Our 2024 pre-budget report, Investing in Universities is Investing in Students and Ontario’s Future, outlines how Ontario’s universities continue to support student success, fuel the province’s economic growth and remain steadfast in their commitment to finding new and innovative ways to drive greater efficiencies.

As the the financial pressures Ontario’s universities face continue to grow, Ontario’s universities call on the provincial government to urgently address the financial sustainability of the university sector by immediately implementing the Blue-Ribbon Panel recommendations to ensure a vibrant and healthy university sector.

Key to the sector’s financial health are the Panel’s recommendations to:

  • Boost operating grants by 10% this year and index future increases;
  • Allow for tuition increases starting in the Fall of 2024 by 5% for general programs and index future increases, while protecting low-income students; and
  • Increase special purpose grants to support Northern and Bilingual universities, as well as research and innovation.

Unless action is taken immediately, more and more universities – and the students they support – are at risk.

“Failure to act will threaten the province’s reputation, with significantly negative effects for international student recruitment, the advancement of regional economies, the preparedness of our future workforce, and the attraction of foreign investment.”

Ensuring Financial Sustainability for Ontario’s Postsecondary Sector, Blue-Ribbon Panel Report, November 15, 2023

Key Facts

  1. Ministry of Colleges and Universities’ 2022 Graduate Survey

  2. Ontario universities’ enrolment data

  3. Council of Ontario Finance Officers

  4. Council of Ontario Finance Officers

  5. Ontario Universities’ Application Centre

  6. Council of Ontario Universities

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