Tuition / en Tuition & Ancillary Fees /node/308737 <span class="field field--name-title field--type-string field--label-hidden">Tuition &amp; Ancillary Fees</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>laurie.bulchak</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2024-07-30T00:58:58-04:00" title="Tuesday, July 30, 2024 - 00:58" class="datetime">Tue, 07/30/2024 - 00:58</time> </span> <div class="field field--name-field-url field--type-string field--label-above"> <div class="field__label">URL</div> <div class="field__item">https://planningandbudget.utoronto.ca/tuition-ancilliary-fees/</div> </div> <div class="field field--name-field-tags field--type-entity-reference field--label-above clearfix"> <h3 class="field__label">Tags</h3> <ul class="links field__items"> <li><a href="/news/tags/tuition" hreflang="en">Tuition</a></li> <li><a href="/news/tags/current-students" hreflang="en">Current Students</a></li> </ul> </div> <div class="field field--name-field-campus field--type-entity-reference field--label-above"> <div class="field__label">Campus</div> <div class="field__item"><a href="/taxonomy/term/7033" hreflang="en">Online Services</a></div> </div> Tue, 30 Jul 2024 04:58:58 +0000 laurie.bulchak 308737 at 茄子直播 redesigns its need-based financial aid program to better account for Toronto鈥檚 high cost of living聽聽 /news/u-t-redesigns-its-need-based-financial-aid-program-better-account-toronto-s-high-cost-living <span class="field field--name-title field--type-string field--label-hidden">茄子直播 redesigns its need-based financial aid program to better account for Toronto鈥檚 high cost of living&nbsp;&nbsp;</span> <div class="field field--name-field-featured-picture field--type-image field--label-hidden field__item"> <img loading="eager" srcset="/sites/default/files/styles/news_banner_370/public/2023-10/UofT86941_2020-09-10-St-crop.jpg?h=afdc3185&amp;itok=rJdXkBsZ 370w, /sites/default/files/styles/news_banner_740/public/2023-10/UofT86941_2020-09-10-St-crop.jpg?h=afdc3185&amp;itok=7ukGEkMz 740w, /sites/default/files/styles/news_banner_1110/public/2023-10/UofT86941_2020-09-10-St-crop.jpg?h=afdc3185&amp;itok=SCunbYHG 1110w" sizes="(min-width:1200px) 1110px, (max-width: 1199px) 80vw, (max-width: 767px) 90vw, (max-width: 575px) 95vw" width="740" height="494" src="/sites/default/files/styles/news_banner_370/public/2023-10/UofT86941_2020-09-10-St-crop.jpg?h=afdc3185&amp;itok=rJdXkBsZ" alt="Student walks down St. George st. at the University of Toronto St. George campus"> </div> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>lanthierj</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2023-10-17T12:06:04-04:00" title="Tuesday, October 17, 2023 - 12:06" class="datetime">Tue, 10/17/2023 - 12:06</time> </span> <div class="clearfix text-formatted field field--name-field-cutline-long field--type-text-long field--label-above"> <div class="field__label">Cutline</div> <div class="field__item"><p><em>(photo by Johnny Guatto)</em></p> </div> </div> <div class="field field--name-field-author-reporters field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/authors-reporters/adina-bresge" hreflang="en">Adina Bresge</a></div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-above"> <div class="field__label">Topic</div> <div class="field__item"><a href="/news/topics/our-community" hreflang="en">Our Community</a></div> </div> <div class="field field--name-field-story-tags field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/tags/back-school-2023" hreflang="en">Back to School 2023</a></div> <div class="field__item"><a href="/news/tags/student-experience" hreflang="en">Student Experience</a></div> <div class="field__item"><a href="/news/tags/current-students" hreflang="en">Current Students</a></div> <div class="field__item"><a href="/news/tags/future-students" hreflang="en">Future Students</a></div> <div class="field__item"><a href="/news/tags/tuition" hreflang="en">Tuition</a></div> </div> <div class="field field--name-field-subheadline field--type-string-long field--label-above"> <div class="field__label">Subheadline</div> <div class="field__item">All domestic students who want to be considered for UTAPS must now complete an application through 茄子直播鈥檚 Need Navigator tool&nbsp;</div> </div> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>The University of Toronto has redesigned its largest need-based financial aid program to offer support that鈥檚 more accessible, transparent and better aligned with the cost of living in the Greater Toronto Area.&nbsp;</p> <p><a href="https://registrar.utoronto.ca/finances-and-funding/utaps/#:~:text=It%20is%20the%20University%20of,UTAPS%20covers%20unmet%20financial%20need.">University of Toronto Advanced Planning for Students (UTAPS)</a> is a program that provides eligible students with grants to help bridge the financial gap between the cost of their total education needs and the amount covered by government student aid programs 鈥 particularly, the Ontario Student Assistance Program (OSAP).&nbsp;</p> <p>A recent review of UTAPS concluded that the program can provide a way for the university to better determine and assist in meeting the costs of attending university in the GTA 鈥 for all 茄子直播 campuses and programs. The resulting redesign, implemented this year, will also streamline the process for 茄子直播 students to be considered for need-based supports.&nbsp;&nbsp;</p> <p>鈥淥ur goal was to get more money into students鈥 hands, particularly given how the price of everything is just so much more expensive,鈥 says Director of Financial Aid and Awards <strong>Donna Wall</strong>. 鈥淚t鈥檚 about trying to help students so that they鈥檙e not as worried about finances and can focus on their studies.鈥&nbsp;</p> <p>There are also important changes to the application process 鈥 namely that all domestic students who want to be considered for UTAPS must complete an application through <a href="https://www3.adm.utoronto.ca/NeedNavigator/index.php">茄子直播鈥檚 Need Navigator tool</a>. The information will be validated before grants are disbursed.&nbsp;&nbsp;</p> <p>茄子直播 provided $94.6 million in need-based supports to 茄子直播 students in 2021-2022, including $36.8 million in UTAPS grants. The grants supported more than 15,500 students 鈥 the vast majority of them undergraduates.&nbsp;</p> <p>UTAPS was originally established to fulfil 茄子直播鈥檚 guarantee that 鈥渘o student offered admission to a program at the University of Toronto should be unable to enter or complete the program due to lack of financial means,鈥 as set out in <a href="https://governingcouncil.utoronto.ca/secretariat/policies/student-financial-support-policy-april-30-1998">Governing Council鈥檚 1998 policy</a>.&nbsp;</p> <p>Wall says the UTAPS redesign upholds this commitment.&nbsp;</p> <p>鈥淭his allows us to be more agile, thoughtful and responsive to the needs of our students.鈥&nbsp;</p> <p>Previously, UTAPS grants were based on the OSAP need assessment, which could be influenced by external factors such as changes in government policy. Relying on OSAP assessments also posed challenges for UTAPS planning, Wall says, because they often underestimated the amount of money 茄子直播 students needed.</p> <p>For example, the OSAP need assessment applies the same living allowances across Ontario, even though necessities such as housing, food and transportation are much more expensive in Toronto than other parts of the province, says Wall.&nbsp;&nbsp;</p> <p>As part of the redesign, UTAPS has developed its own need assessment measure while increasing transparency about how resources are allocated.&nbsp;&nbsp;</p> <p>The Need Navigator will also streamline the financial aid process by allowing students to be considered simultaneously for UTAPS and supports from faculties and academic divisions, which totalled $57.8 million in 2021-2022.&nbsp;</p> <p>Wall says more updates to UTAPS can be expected in the years ahead, including tools to aid financial planning for students and their families.&nbsp;</p> <p>茄子直播 students who have benefited from the existing program were excited to hear the support will better account for rising costs in the GTA.&nbsp;</p> <p><strong>Maya Povhe</strong>, who is in her fourth year of studying business administration at 茄子直播 Scarborough, says one of the biggest benefits of UTAPS is how it鈥檚 tailored to each student鈥檚 individual needs, rather than providing a flat amount.&nbsp;</p> <p>鈥淚t鈥檚 been a great aid to my financial planning,鈥 she says. 鈥淚t meant I didn鈥檛 need to worry about how I was going to pay for basic things like rent or food.鈥&nbsp;</p> <p><strong>Iqra Sadiq</strong>, a third-year student in the Rotman Commerce program, says programs like UTAPS allow students to make the most of the time they spend in university.&nbsp;</p> <p>鈥淚 would definitely say it鈥檚 a really big help 鈥 not just financially, but also as a motivation to keep pursuing my studies," Sadiq says. 鈥淭he price of education should never outweigh its value, and UTAPS gave me that boost to stay focused on school and not worry too much about the financials.鈥&nbsp;</p> </div> <div class="field field--name-field-news-home-page-banner field--type-boolean field--label-above"> <div class="field__label">News home page banner</div> <div class="field__item">Off</div> </div> Tue, 17 Oct 2023 16:06:04 +0000 lanthierj 303548 at Ontario budget links post-secondary sector funding to outcomes /news/ontario-budget-links-post-secondary-sector-funding-outcomes <span class="field field--name-title field--type-string field--label-hidden"> Ontario budget links post-secondary sector funding to outcomes</span> <div class="field field--name-field-featured-picture field--type-image field--label-hidden field__item"> <img loading="eager" srcset="/sites/default/files/styles/news_banner_370/public/2019-04-11-budget-pic-resized.jpg?h=afdc3185&amp;itok=K2PPRv2x 370w, /sites/default/files/styles/news_banner_740/public/2019-04-11-budget-pic-resized.jpg?h=afdc3185&amp;itok=8J7I7hrd 740w, /sites/default/files/styles/news_banner_1110/public/2019-04-11-budget-pic-resized.jpg?h=afdc3185&amp;itok=FzW48Unz 1110w" sizes="(min-width:1200px) 1110px, (max-width: 1199px) 80vw, (max-width: 767px) 90vw, (max-width: 575px) 95vw" width="740" height="494" src="/sites/default/files/styles/news_banner_370/public/2019-04-11-budget-pic-resized.jpg?h=afdc3185&amp;itok=K2PPRv2x" alt="Photo of ornate doorway at 茄子直播"> </div> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>noreen.rasbach</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2019-04-11T17:13:31-04:00" title="Thursday, April 11, 2019 - 17:13" class="datetime">Thu, 04/11/2019 - 17:13</time> </span> <div class="clearfix text-formatted field field--name-field-cutline-long field--type-text-long field--label-above"> <div class="field__label">Cutline</div> <div class="field__item">(photo by Makeda Marc-Ali)</div> </div> <div class="field field--name-field-author-reporters field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/authors-reporters/chris-sorensen" hreflang="en">Chris Sorensen</a></div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-above"> <div class="field__label">Topic</div> <div class="field__item"><a href="/news/topics/our-community" hreflang="en">Our Community</a></div> </div> <div class="field field--name-field-story-tags field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/tags/ontario-impact" hreflang="en">Ontario Impact</a></div> <div class="field__item"><a href="/news/tags/commercialization" hreflang="en">Commercialization</a></div> <div class="field__item"><a href="/news/tags/faculty-staff" hreflang="en">Faculty &amp; Staff</a></div> <div class="field__item"><a href="/news/tags/mental-health" hreflang="en">Mental Health</a></div> <div class="field__item"><a href="/news/tags/meric-gertler" hreflang="en">Meric Gertler</a></div> <div class="field__item"><a href="/news/tags/tuition" hreflang="en">Tuition</a></div> </div> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>The University of Toronto plans to work with the Ontario government to measure the impact of its top-ranked scholarship and research, as well as innovation infrastructure, following a budget that links university operating grants to outcomes.&nbsp;</p> <p><a href="http://budget.ontario.ca/2019/">In its first budget, delivered today</a>, Premier Doug Ford鈥檚 Progressive Conservative government announced changes to the strategic mandate agreements with 45 publicly funded colleges and universities that more closely tie provincial funding to performance-oriented outcomes.</p> <p>The new measures, to be implemented when the current agreements expire in 2020, would tie 25 per cent of funding to performance outcomes in their first year, and then increase over three years to 60 per cent in 2024-2025.</p> <p>There are also plans to reduce the number of metrics 鈥 like graduation rates and ability to attract research funding 鈥 that the agreements rely on to measure outcomes for universities.</p> <p>鈥淎s an innovation and research powerhouse and a global top ten public university, 茄子直播 is delivering results for Ontario and driving social and economic development,鈥 said 茄子直播 President <strong>Meric Gertler</strong>.</p> <p>鈥淲e welcome the opportunity to work with the government to identify the appropriate way to capture these results.鈥</p> <p>Ontario鈥檚 budget also included plans to create an expert panel tasked with developing an action plan on intellectual property and maximizing commercialization opportunities at colleges and universities. It would potentially include representatives from the post-secondary sector, industry and the finance and legal sectors, among others.</p> <p>It also announced there would be consultations with colleges and universities about how to best achieve faculty renewal objectives.</p> <p>Overall, the Ontario government pledged to balance the books by 2023-2024, which is beyond its mandate, and pegged the current deficit at $11.7 billion.</p> <p>"We have developed a reasonable path to balance," <a href="https://windsor.ctvnews.ca/ontario-tightens-purse-strings-tories-don-t-plan-to-balance-books-until-2023-24-1.4375200">Finance Minister Vic Fedeli said</a>. "Our path to balance in five years is a thoughtful and a measured approach to take ... Our entire premise is to protect what matters most."</p> <p>The Ontario government also said it will invest $3.8 billion for mental health, addictions and housing supports over 10 years.</p> <p>President Gertler, who recently announced <a href="/news/u-t-announces-action-plan-student-mental-health">a four-point action plan&nbsp;to address issues around student mental health</a>, lauded the province for moving forward on a health issue that impacts people across the province, including post-secondary students.&nbsp;</p> <p>鈥淭he success and well-being of our students is the university鈥檚 highest priority,鈥 he said. 鈥淚nvestments from the government to address the acute increase in the need for mental health services is a positive step.</p> <p>鈥淲e look forward to hearing more about how this funding will be distributed and are hopeful that students in the university sector will benefit.鈥</p> <p>The changes in the budget aimed at Ontario鈥檚 colleges and universities come on the heels of other cost-saving measures announced earlier this year.</p> <p>In January, Merrilee Fullerton, the province鈥檚 minister of training, colleges and universities, announced plans to cut tuition by 10 per cent for domestic undergraduate students and then freeze tuition at those levels in 2020-2021. Fullerton also revealed changes to the Ontario Student Assistance Program, or OSAP, that will result in fewer students receiving non-repayable grants through the program 鈥 effectively undoing changes made by the previous government that were aimed at ensuring low-income students could attend college or university for free.</p> <p>At the same time, the Ontario government introduced a plan that would allow students to opt out of paying some non-tuition fees.</p> <p>In its most recent budget, 茄子直播 said it will take in $88 million less than it previously forecast in the upcoming academic year as a result of the tuition changes. The university relies on tuition and other fees to make up about 63 per cent of its total funding. Another 24 per cent comes from provincial operating grants, while about 13 per cent comes from income related to investments or 茄子直播鈥檚 endowment, as well as other sources.</p> <p>&nbsp;</p> <p>&nbsp;</p> </div> <div class="field field--name-field-news-home-page-banner field--type-boolean field--label-above"> <div class="field__label">News home page banner</div> <div class="field__item">Off</div> </div> Thu, 11 Apr 2019 21:13:31 +0000 noreen.rasbach 156209 at 茄子直播 to ensure student access despite changes to OSAP, tuition framework /news/u-t-ensure-student-access-despite-changes-osap-tuition-framework <span class="field field--name-title field--type-string field--label-hidden">茄子直播 to ensure student access despite changes to OSAP, tuition framework</span> <div class="field field--name-field-featured-picture field--type-image field--label-hidden field__item"> <img loading="eager" srcset="/sites/default/files/styles/news_banner_370/public/UofT15614_LPedersen__campus-winter-%28weblead%29jpg.jpg?h=afdc3185&amp;itok=VKHVyPQV 370w, /sites/default/files/styles/news_banner_740/public/UofT15614_LPedersen__campus-winter-%28weblead%29jpg.jpg?h=afdc3185&amp;itok=1iMKlGb4 740w, /sites/default/files/styles/news_banner_1110/public/UofT15614_LPedersen__campus-winter-%28weblead%29jpg.jpg?h=afdc3185&amp;itok=jt2i7vrC 1110w" sizes="(min-width:1200px) 1110px, (max-width: 1199px) 80vw, (max-width: 767px) 90vw, (max-width: 575px) 95vw" width="740" height="494" src="/sites/default/files/styles/news_banner_370/public/UofT15614_LPedersen__campus-winter-%28weblead%29jpg.jpg?h=afdc3185&amp;itok=VKHVyPQV" alt="Students on campus in winter"> </div> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>Christopher.Sorensen</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2019-01-17T14:13:35-05:00" title="Thursday, January 17, 2019 - 14:13" class="datetime">Thu, 01/17/2019 - 14:13</time> </span> <div class="clearfix text-formatted field field--name-field-cutline-long field--type-text-long field--label-above"> <div class="field__label">Cutline</div> <div class="field__item">(photo by Laura Pedersen)</div> </div> <div class="field field--name-field-author-reporters field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/authors-reporters/chris-sorensen" hreflang="en">Chris Sorensen</a></div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-above"> <div class="field__label">Topic</div> <div class="field__item"><a href="/news/topics/our-community" hreflang="en">Our Community</a></div> </div> <div class="field field--name-field-story-tags field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/tags/meric-gertler" hreflang="en">Meric Gertler</a></div> <div class="field__item"><a href="/news/tags/tuition" hreflang="en">Tuition</a></div> <div class="field__item"><a href="/news/tags/undergraduate-students" hreflang="en">Undergraduate Students</a></div> </div> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>The University of Toronto is committed to maintaining its standing among the world鈥檚 top academic and research institutions 鈥 and ensuring access for all qualified students 鈥 despite the Ontario government鈥檚 cuts to post-secondary education funding.</p> <p>President <strong>Meric Gertler</strong> said 茄子直播 is studying the government鈥檚 plan, announced today, to roll back recent changes to the Ontario Student Assistance Program, or OSAP, alongside a cut in the tuition fees paid by students across the province.</p> <p>More than half of 茄子直播鈥檚 47,000 domestic undergraduates are currently eligible for OSAP, while a little over 60 per cent of the university鈥檚 funding comes from tuition and other student fees.</p> <p>鈥淲e need to review our budgets to assess the full impact of these changes,鈥 President Gertler said. 鈥淏ut we remain committed to fulfilling our academic mission, and to supporting excellence in research and innovation.</p> <p>鈥淲e will do all we can to limit the impact of these changes on the 茄子直播 community.鈥</p> <p>Citing a recent auditor general鈥檚 report, Merrilee Fullerton, the province鈥檚 minister of training, colleges and universities, said during a news conference that Ontario鈥檚 Progressive Conservative government will undo OSAP changes made by the previous Liberal government. Those changes, first introduced for the 2017-2018 academic year, increased the number of non-repayable grants provided through the program 鈥 as opposed to student loans 鈥 in a bid to allow low-income students to be able to attend college or university for free.</p> <p>At the same time, Fullerton officially announced plans, beginning in the 2019-2020 academic year, to cut tuition paid by domestic students by 10 per cent across the province, and then freeze tuition at that level in 2020-2021.</p> <p>Tuition paid by international students is unregulated, and will therefore be unaffected.</p> <p>Fullerton also said the Ontario government will introduce a plan that would allow, with some exceptions, students to pick and choose between the non-tuition fees they pay.</p> <p>In response to a reporter鈥檚 question, Fullerton said there would be no cuts to the core operating grants provided to the province鈥檚 colleges and universities.</p> <p>While the latest changes to OSAP could make life more challenging for low-income students, President Gertler said 茄子直播 is committed to ensuring access to a post-secondary education is based on merit 鈥 not a student鈥檚 ability to pay.</p> <p>鈥淲e know how hard many of our students and their families work to get a university education,鈥 he said.</p> <p>鈥淲e feel it鈥檚 important to remain firm in our long-standing access guarantee 鈥 that financial circumstances should not stand in the way of a qualified student entering or completing their degree.鈥</p> <p>茄子直播, routinely ranked as the country鈥檚 top university, has more students from lower-income families than any other university in the province, with at least one quarter of all first-year students coming from families who earn $50,000 or less per year.</p> <p>To ensure equality of access, 茄子直播 spent more than $200 million this year on its own financial aid programs 鈥 more than any other university in Ontario, and about double what the province requires.</p> <p>As for the proposed tuition cuts, the minister indicated there is currently no plan to offset lower tuition revenue for universities with increases to operating grants or other provincial funding mechanisms. That will leave schools with a significant hole in their budgets at a time when many are looking to post-secondary institutions to drive Ontario鈥檚 success in the knowledge economy.&nbsp;</p> <p>鈥淎s governments look for cost savings,鈥 said President Gertler, 鈥渨e will impress upon them not to lose sight of the important work our faculty and students do in improving the lives of Ontarians and others around the world.鈥</p> <p>&nbsp;</p> </div> <div class="field field--name-field-news-home-page-banner field--type-boolean field--label-above"> <div class="field__label">News home page banner</div> <div class="field__item">Off</div> </div> Thu, 17 Jan 2019 19:13:35 +0000 Christopher.Sorensen 151356 at 茄子直播 shares its 2017-2018 budget plans /news/u-t-shares-its-2017-2018-budget-plans <span class="field field--name-title field--type-string field--label-hidden">茄子直播 shares its 2017-2018 budget plans</span> <div class="field field--name-field-featured-picture field--type-image field--label-hidden field__item"> <img loading="eager" srcset="/sites/default/files/styles/news_banner_370/public/2017-03-03-budget.jpg?h=afdc3185&amp;itok=xF9cB6oc 370w, /sites/default/files/styles/news_banner_740/public/2017-03-03-budget.jpg?h=afdc3185&amp;itok=13CUImKq 740w, /sites/default/files/styles/news_banner_1110/public/2017-03-03-budget.jpg?h=afdc3185&amp;itok=lyd-1YjC 1110w" sizes="(min-width:1200px) 1110px, (max-width: 1199px) 80vw, (max-width: 767px) 90vw, (max-width: 575px) 95vw" width="740" height="494" src="/sites/default/files/styles/news_banner_370/public/2017-03-03-budget.jpg?h=afdc3185&amp;itok=xF9cB6oc" alt="photo of University College"> </div> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>lanthierj</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2017-03-03T15:51:31-05:00" title="Friday, March 3, 2017 - 15:51" class="datetime">Fri, 03/03/2017 - 15:51</time> </span> <div class="clearfix text-formatted field field--name-field-cutline-long field--type-text-long field--label-above"> <div class="field__label">Cutline</div> <div class="field__item">(photo by Johnny Guatto)</div> </div> <div class="field field--name-field-topic field--type-entity-reference field--label-above"> <div class="field__label">Topic</div> <div class="field__item"><a href="/news/topics/our-community" hreflang="en">Our Community</a></div> </div> <div class="field field--name-field-story-tags field--type-entity-reference field--label-hidden field__items"> <div class="field__item"><a href="/news/tags/budget" hreflang="en">Budget</a></div> <div class="field__item"><a href="/news/tags/tuition" hreflang="en">Tuition</a></div> <div class="field__item"><a href="/news/tags/financial-aid" hreflang="en">Financial Aid</a></div> <div class="field__item"><a href="/news/tags/current-students" hreflang="en">Current Students</a></div> <div class="field__item"><a href="/news/tags/future-students" hreflang="en">Future Students</a></div> </div> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>Improving the undergraduate experience, encouraging more students to study abroad, increasing diversity, and outreach to Indigenous communities 鈥 those are&nbsp;some of the key priorities outlined in 茄子直播鈥檚 spending plans for the coming academic year.</p> <p>The <a href="http://www.governingcouncil.lamp4.utoronto.ca/wp-content/uploads/2017/02/a0227-2i-2016-2017bb.pdf">proposed operating budget for the 2017-18 fiscal year</a> is in its final stages, with a Governing Council vote set for early April.&nbsp; The $2.47-billion spending plan is the result of several months of consultations and reflects the decisions of many academic divisions and departments, as well as university-wide services and needs.&nbsp; &nbsp;</p> <p>鈥淏udget planning at the University of Toronto is a highly collaborative process aimed at supporting local aspirations as well as important university-wide priorities, while considering the many external and internal factors that influence the resources we have available,鈥 said 茄子直播 Provost and Vice-President <strong>Cheryl Regehr</strong>, who meets with leaders of each academic division every fall to discuss multi-year spending plans. &nbsp;</p> <p>Regehr described this year鈥檚 budget as a hold-steady plan, reflecting the fact that negotiations continue with the province on new Strategic Mandate Agreements with all Ontario universities.&nbsp; The province also has extended the existing tuition framework for two more years. &nbsp;</p> <p>Tuition and grant revenue for next year, expected to be $2.165 billion, and total operating revenue of $2.47 billion are both within 1 per cent of the previous year鈥檚 projection for 2017-18.</p> <p>President <strong>Meric Gertler</strong> held similar meetings with vice-presidents to discuss central university-wide costs such as enrolment services, research services, and alumni relations.</p> <p><strong>Scott Mabury</strong>, 茄子直播鈥檚 vice-president of operations, stressed that the university has worked to reduce the percentage of the budget used for university-wide costs and non-discretionary expenses.&nbsp; 鈥淲e are working to allocate additional revenue into the academy and into the classroom,鈥 he said.</p> <p>Efforts to reduce the space costs of individual departments and divisions and money-saving green initiatives, for example, have freed up funds for teaching and for the indirect costs of research, he said.</p> <p>Next year, university-wide costs, which include services provided by the vice-presidential portfolios and the library, will account for 22.3 per cent of revenue, down from 25.4 per cent in 2013.&nbsp;</p> <p>The majority of the university鈥檚 revenue 鈥 61 per cent 鈥 comes from student fees, with operating grants making up 27 per cent and 12 per cent coming from other sources. On the spending side, 62 per cent goes to compensation, with 8 per cent to student aid, 7 per cent each to capital equipment and occupancy costs and 16 per cent to other expenses.</p> <p>For the first time next year, the total amount of financial aid available to 茄子直播 students will hit $200-million, up from just $7.7-million in 1992.&nbsp; 鈥淭his is a milestone we should celebrate,鈥 Regehr said.</p> <p>Under Ontario鈥檚 tuition framework, tuition for students in Arts and Science and selected other undergraduate programs may increase by 3 per cent and tuition for professional and graduate students may increase by 5 per cent. The average tuition increase for all domestic students may not exceed 3 per cent. To meet this cap, tuition for doctoral students will fall by $70 next year.&nbsp;&nbsp;&nbsp;</p> <p>Undergraduate enrolment is expected to inch up over the next five years across the university, with a slight decline at the St. George campus. &nbsp;&nbsp;</p> <p>Attracting high-calibre international students is also a priority. Tuition fees for international students are set at a level that takes into consideration both the fee levels at peer Canadian and US universities and also the full cost to the University of providing a program.&nbsp; The average tuition increase for international students for the coming year is 5.9 per cent. In 2015-16 the university provided $10.3-million in merit and need-based grants to 2,075 undergraduate and graduate international students in addition to graduate fellowships.&nbsp;</p> <p>茄子直播鈥檚 budget is built from the bottom up for the most part, but a central account called the University Fund is used to provide financial support to new initiatives and institutional priorities in academic divisions.</p> <p>A total of $18-million is available for distribution from the fund next year and it will be used to support work in three priority areas: undergraduate and international experience, diversity and actions responding to 茄子直播鈥檚 Truth and Reconciliation Commission Steering Committee, and cities initiatives. In addition, the fund will support academic divisions facing budget challenges, contribute to a province-wide high-performance computing network and provide matching funds for capital projects.</p> <p>Details of that spending include:</p> <ul> <li>$1.3-million to increase the number of wellness counsellors and to help staff the Sexual Violence Prevention and Support Centre on all three campuses.</li> <li>$1.5-million to enhance study abroad and exchange opportunities and international student recruitment.</li> <li>$1-million to initiatives that enhance undergraduate research and career development, including experiential learning.</li> <li>$2.5-million for faculty and staff positions to respond to the actions recommended by the <a href="http://www.provost.utoronto.ca/Assets/Provost+Digital+Assets/TRC_FinalReport.pdf">Final Report of the Steering Committee for the 茄子直播 &nbsp;Response to the Truth and Reconciliation Commission of Canada</a>.</li> <li>$1.5-million to be used as matching funds for the conversion of existing space to space welcoming to members of our Indigenous community</li> <li>$750,000 to build on an initiative started last year to increase diversity among faculty on all three campuses.</li> <li>$1.5-million for initiatives in the area of cities research, including exploring opportunities for a new <a href="https://memos.provost.utoronto.ca/launch-of-consultation-process-proposed-u-of-t-school-of-cities-pdadc-6">School of Cities</a>.</li> </ul> <p>Other budget priorities over the next few years include continuing improvements to the student information system, funding to sustain the services and collections of the library system, a multi-year project to upgrade classrooms on the St. George campus, and continuation of the Boundless fundraising campaign.</p> <p>The operating budget is one of four funds included in the university鈥檚 financial statements, although it accounts for three-quarters of all spending. The three others are the restricted fund, the capital fund and the ancillary operations fund.</p> <p>Governing Council is expected to vote on the proposed budget on April 4.&nbsp;&nbsp;</p> </div> <div class="field field--name-field-news-home-page-banner field--type-boolean field--label-above"> <div class="field__label">News home page banner</div> <div class="field__item">Off</div> </div> Fri, 03 Mar 2017 20:51:31 +0000 lanthierj 105293 at