A Plan for Prosperity

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A Plan for Prosperity:
Ensuring the Financial Sustainability of Ontario’s Universities

Ontario’s universities are essential contributors to driving growth, performance, prosperity and competitiveness, playing a crucial role in meeting the pressing issues of the province. Universities remain committed to transforming and maintaining fiscal responsibility while empowering students, families, and communities, driving innovation, generating employment, and addressing priorities critical to Ontario’s economic growth. A Plan for Prosperity: Ensuring the Financial Sustainability of Ontario’s Universities, details how government, business, community partners and universities must work together to ensure universities have the resources they need to continue support students, lead innovation and drive economic growth for the benefit of Ontario.

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Key Facts

Ontario universities are supporting students by providing nearly $1.3 billion in student financial assistance in 2021-22, including through scholarships, bursaries and grants.

A 2021-22 Ministry of Colleges and Universities’ survey found university students who graduated in 2019, and entered the workforce during the pandemic, had a high employment rate of 90.4% six months after graduation, increasing to 94.3% two years after graduation.

Since 2010, universities increased enrolment in STEM programs by 68% and health programs by 38%, while establishing more than 660 agreements with industry associations to support programs to upskill and reskill mid-career workers.

According to a 2023 poll conducted by Ipsos, 90% of Ontarians agree that they want (or would want) their child to attend university.1

  1. According to a 2023 poll conducted by Ipsos