Ontario Consults with Postsecondary Sector on Modernizing University Funding
Province Moving Forward with Postsecondary Education Transformation
Today Ontario met with important partners in the postsecondary sector to discuss how best to fund the province's universities in the future.
Ontario brought together students, postsecondary leaders, faculty, employers, and other participants to provide and discuss ideas on how a reformed university funding model could:
- Enhance the quality of education for students and improve the overall student experience
- Build on and help focus the well-established strengths of Ontario postsecondary institutions while avoiding duplication
- Ensure financial sustainability and long-term sustainability of the postsecondary sector
- Increase the transparency and accountability of postsecondary institutions.
Funding universities in a more quality-driven, sustainable and transparent way is part of the government's economic plan for Ontario. The four-part plan is building Ontario up by investing in people's talents and skills, building new public infrastructure like roads and transit, creating a dynamic, innovative environment where business thrives, and building a secure savings plan.
- Ontario universities are currently funded through an allocation model originally developed in 1967. The model allocates funding based largely on enrolment.
- By the end of 2013-14, Ontario invested more than $3.5 billion in operating grants to universities, an increase of $1.63 billion or 86 per cent since 2002-03. Full-time enrolment in Ontario’s postsecondary system has grown by more than 177,000 students since 2003 - more than in any decade in the province’s history.
- Full-time enrolment in Ontario’s postsecondary system has grown by more than 177,000 students since 2003 - more than in any decade in the province’s history.
“We are excited to consult with a wide range of partners as we move forward with modernizing how universities are funded in Ontario. With Sue Herbert’s leadership and the valuable input of these participants, we can develop a new model that puts students first and helps ensure the long-term sustainability of our postsecondary sector. I want to thank all participants for contributing to such an important discussion.”
“I want to thank today’s participants for all their comments and feedback. We heard a lot of thoughtful and helpful input into an important element of the government’s postsecondary transformation agenda. I look forward to continuing discussions with interested stakeholders on how best to design a modernized funding approach for Ontario's university system.”