The Ontario Government is investing another $78.5 million in Canadore and Nipissing University.
MPP Vic Fedeli made the announcement Friday, saying the money will protect postsecondary students’ access to education they need.
Over the next four years, more than $44 million is going to Canadore, and $34 million to Nipissing.
“This historic increase will ensure that Canadore College and Nipissing University can keep preparing students for rewarding, in-demand careers that meet labour market demands for generations to come,” says Fedeli.
He adds postsecondary education is an important long-term investment they can provide for the next generation of students to help build a stronger Ontario.
Dr. Sandra Efu, Canadore President and CEO, says the investment establishes a steadier path forward, and they look forward to meet the evolving needs of students, communities and the economy.
“As we know the Ontario system has faced significant deficits over many years and so this will certainly help close the gap,” says Efu. “We did not get here overnight, so institutions are taking the time to find efficiencies and to ensure we remain sustainable well into the future.”
Dr. Kevin Wamsley, President and Vice Chancellor of Nipissing University, says provincial funding to date has generally been on a one-time basis, which makes it difficult to project into future years.
“What this does is it gives us the funding formula so we can understand the money that we will be receiving,” he says. “We can stabilize by understanding how much we’re going to have, how much we can invest and will our future look brought. This kind of announcement gives us a little more stability in that way.”
The province says operating funding for the sector will increase by 30% to $7 billion in fall 2026. Officials add the model also includes specialized funding for small, rural, northern and French institutions, so that students in all corners of the province have access to a world class education.
