The University of Toronto (U of T) released a new their 2019-2020 budget, which projected a $88-million deficit in their projected revenue, according to the Varsity. The university attributes the projected deficit to the Ontario provincial government’s announcement that it will be cutting post-secondary tuition by 10 per cent.
U of T’s total projected revenue for the 2019-2020 academic year is $2.77 billion, so the projected loss will be about three per cent of total revenue.
These budget projections from the U of T administration are concerning and show how greatly post-secondary institutions will be affected by Premier Doug Ford’s proposed cuts.
While tuition cuts are a good thing for students, it’s important for students to recognize how revenue loss may affect their on-campus student experience and be proactive in staying informed in how the university will supplement this lost income or, more likely, adapt to it.
So far, schools haven’t said how exactly these adaptations will happen, but it is important for students to stay engaged with what’s happening. Even if decreases to school revenue fall under 10 per cent, amidst the number-crunching, there is still no telling how these changes will filter down to student life.
