Jain Overseas Ends Busy April With ICEF Vancouver and CAPS-I Visits One of our many goals for 2019 has been to establish more of a presence at industry events. Following a week of celebration that included a meeting with Prime Minister
Ontario’s Progressive Conservative government presented its first fiscal budget last week, promising to balance the province’s books in five years. The Ontario budget comes with major changes to the province’s postsecondary sector, especially where funding is concerned. Under premier Doug Ford’s new plan, universities and colleges could lose as much as 60 per cent of their funding if they fall short of performance targets.
The Ontario Confederation of University Faculty Associations (OCUFA) was quick to criticize the proposed changes, noting performance-based funding stands to hurt faculty and students alike. From an outside perspective, it’s hard not to be wary of these education changes, as Ontario universities already receive the lowest per-student funding in Canada. However, one group that stands to benefit is international students, as Ontario universities and colleges may further rely on them to fill funding gaps.
Under the current system, only a small proportion of funding is tied to an institution’s performance (1.4 per cent for universities, 1.2 per cent for colleges). However, these percentages are set to increase dramatically in the next five years. The first year following March 31, 2020 – when the current Strategic Mandate Agreements expire – 25 per cent of funding will be tied to performance. The proportion will then increase by 10 per cent over the following three years and 5 per cent in the final year. This means by the 2024-25 academic year, 60 per cent of funding will be performance-based.