By Kevin Ritchie
The Ontario government announced Tuesday it will allow tuition hikes of 2 per cent each year over the next five years for provincially regulated programs.
That means a $77 increase for students enrolled in provincially regulated undergraduate university programs and $34 for college students.
Minister of Training, Colleges and Universities Diane Cunningham said the announcement will help students prepare for the future.
The tuition increase come with a provincial government promise to inject $68-million into postsecondary education next year. But for the first time, part of the grant will be distributed based on universities’ graduation rates and the number of grads who are employed after six months and two years.
Cunningham said the government is rewarding schools that do the best job of preparing students.
Joel Harden, chair of the Ontario division of the Canadian Federation of Students, said the rewards system forces universities to compete with each other.
“It demonstrates how committed the government is to making universities run like businesses,” Harden said.
Ryerson’s finance committee also met Monday to discuss tuition hikes for next year. The committee heard presentations from student groups but is still deciding what tuition will be.