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Addressing Our Financial Reality
Algonquin College, along with the entire post-secondary education sector, continues to face unprecedented financial challenges. This is due in part to a prolonged and ongoing provincial government tuition freeze, chronic underfunding, and federal government immigration policy changes that negatively impact international enrolments. The College continues to implement mitigation strategies to improve the financial performance; however despite these efforts, our outlook remains extremely challenging, with accumulating deficits and the potential depletion of College reserves within the next three fiscal years.
The College will continue to identify and implement additional mitigation measures, taking decisive steps to further reduce expenses, optimize resources and explore new revenue opportunities. Our College community is built on the dedication and hard work of our employees. The steps we are taking now are not a reflection of that commitment but rather a response to the changing environment in which we operate.
We understand that these developments raise important questions. Below, you will find answers to some of the most common inquiries, and the latest updates, to help provide clarity during this time.