By Vidya Kauri
Before prospective students even get to step on campus, Ryerson is already cashing in on their applications.
Most applicants to Ryerson submit their applications through the Ontario Universities’ Application Centre (OUAC), which charges a $150 fee for the service.
Ryerson receives an average of 67,000 applicants per year, according Charmaine K. Hack, director of admissions and recruitment.
But only one in 10 applicants are accepted by the university. Ryerson has one of the highest applicant-to-student ratios in Ontario and is currently attended
by 32,000 undergraduate students. This fee covers three applications through OUAC and any additional one cost students an extra $30.
OUAC retains 22 per cent of this application fee to cover the costs of general administration, computer equipment, office supplies, facilities, salaries and benefits.
The remaining 78 per cent is transferred directly to the universities.
The funds that Ryerson receives from prospective students are used as general revenue for the university’s central accounts, according to Janice Winton, assistant vice-president of Financial Services.
“[General revenues] are used for operating expenditures such as faculty salaries, utilities, etc.” said Winton.
Although the high ratio of applicants-to-students results in more revenue for Ryerson, the university does not direct the funds in any particular way, according to Winton.
“As the OUAC funds are part of general revenues they are not directly attributed to any particular activity. You could say that they contribute to the overall Ryerson experience.”
Ryerson President Sheldon Levy said the money is put towards processing application, high school visits and providing technology for new students. Ryerson also earns general revenue from students who apply to change programs within the university, which costs them a fee of $80.
Photo: Marta Iwanek