News Release

FREDERICTON (GNB) – The provincial government has announced sustainable and predictable university funding and stable tuition levels for students.

Premier David Alward and Post-Secondary Education, Training and Labour Minister Jody Carr announced a university funding increase for the next two years. This is the first time the provincial government has provided a university funding agreement in advance of the yearly provincial budget announcement.  

The government will provide a two per cent increase to university operating budgets for each of the next two years allowing them to plan through to 2016.

In response to a commitment to ensure stable tuition levels for students, the government has set an annual tuition increase cap of no more than three per cent for the next three years for all public universities. It was also announced last week that St. Thomas University and the government reached an additional university funding and tuition agreement responding to that university’s unique needs.

“Public universities are critical to the socio-economic development strategies of our province and they represent a key investment in our people, our economy, and in the future of our province,” said Alward.

To ensure universities are accountable for their operating grant increases, they will be required to collaborate on continuous improvement and also report to government on how the new funding is used.

“It is essential to collaborate with our provincial universities in offering good quality programs that contribute to rebuilding our province,” said Carr. “Our government is providing predictable increases and substantial investments to the university operating budgets while at the same time asking universities to continue their efforts to keep costs down for our students.”

The universities have long requested predictable funding.

Other provinces including Ontario, Manitoba and British Columbia have already set tuition policies in a similar way.

“Tuition increases are a reality across the country but it is important that any necessary increase is stable and predictable,” said Carr. “We share a common objective to ensure students have accessible and affordable post-secondary education opportunities. Adopting a tuition policy means institutions and students can better plan their respective budgets and investments.”

A redesigned student financial assistance program is expected to be announced in the near future.

LINK:

●    Labour Force and Skills Development and Innovation Strategy