The Ontario government announced over a billion dollars in new funding for post-secondary institutions and extended the freeze in domestic tuition for another three years.

Minister of Colleges and Universities, Jill Dunlop, announced the nearly $1.3 billion investment on Monday, aiming “to stabilize colleges and universities.”

The investment includes:

• $903 million over three years through the new Postsecondary Education Sustainability Fund starting in 2024-25. This sum includes $203 million in top-up funding for institutions with greater financial needs.
• $167.4 million over three years for additional capital repairs and equipment.
• $10 million in one-time funding for the 2024-25 fiscal year through the Small, Northern, and Rural Grant for colleges and the Northern Ontario Grant for Universities. This funding aims to support financially vulnerable institutions while the government collaborates with them on efficiency initiatives.
• $15 million over three years, starting in 2024-25, from the Efficiency and Accountability Fund to underwrite third-party reviews. These reviews are expected to identify strategies for long-term cost savings and to foster positive outcomes for students and communities, targeting both structural and operational policy improvements.
• $100 million in 2023-24 to support STEM program costs at publicly assisted colleges and universities, addressing enrolments beyond current funding levels.
• $65.4 million to bolster research and innovation, which includes $47.4 million for the infrastructure upgrade of Ontario’s Advanced Research Computing systems and $18 million for their ongoing operations and maintenance.
• $23 million to augment mental health supports, incorporating $8 million for the Postsecondary Mental Health Action Plan over the next three years.

Provost Robert Aguirre said the University of Windsor welcomes the additional support.

“The University of Windsor is encouraged by the Ontario Government’s substantial investment of nearly $1.3 billion in post-secondary education and addressing the needs of the sector,” Dr. Aguirre said.

“UWindsor is eager to work closely with the government to ensure fund allocation continues to serve the well-being and success of our students.”

For more details on Monday’s funding announcement, visit the Government of Ontario’s website.