TORONTO — Ontario is giving colleges and universities billions in new funding, while lifting a seven-year tuition fee freeze and cutting back on the amount of student assistance grants.
The moves are in response to a post-secondary financial crisis, following years of low levels of government funding, stagnant domestic tuition levels since 2019 and sharply reduced numbers of international students and the high tuition fees institutions can charge them.
Colleges and Universities Minister Nolan Quinn has been reviewing the post-secondary funding formula and announced changes Thursday that will amount to $6.4 billion in additional money over four years.