Government plan for postsecondary education helps students reach higher

Enhanced student assistance funding key component of plan

May 17, 2005

OTTAWA – Ontario's more than 500,000 college and university students will benefit from the most substantial investment in postsecondary education in 40 years, including enhanced student assistance funding, Mary Anne Chambers, Minister of Training, Colleges and Universities said today.

"If Ontario is to achieve its full potential, it is critical to reach higher when it comes to postsecondary education," said Chambers as she spoke to students, staff and faculty at Algonquin College. "This is why our government is improving access to higher education and committing itself to a healthy and vibrant postsecondary and training system."

The additional $6.2 billion investment, including major improvements to financial assistance for students were outlined in Reaching Higher: The McGuinty Government Plan for Postsecondary Education, which was unveiled in last week's Budget. Through the plan, the government will provide an additional $1.5 billion in funding for student financial assistance by 2009-10 to:

• Offer new low-income grants for first-year, dependent students
  
• Enhance student support for second-year dependent students
  
• Join with the federal government to expand eligibility for student loans
  
• Reduce the amount of money middle-income parents are expected to contribute to their children's education
  
• Match funds raised by colleges and universities to establish endowments for student financial assistance
  
• Work with the federal government to broaden and expand student assistance.

"Our government is proud to make these changes – the most significant improvements to student aid since the Ontario Student Assistance Program was first set up more than 25 years ago," added Chambers. "Under our plan, a student's report card - not his or her wallet – will determine whether they get the chance to reach higher."

The minister also told the students that through the plan, the government will freeze tuition for a second straight year, help colleges hire more faculty to accommodate higher enrolments and improve student success, and improve pathways for students through increased collaboration between colleges and universities.

"Our historic investment in postsecondary education is essential to the future prosperity of our province," said Jim Watson, Minister of Consumer and Business Services and MPP for Ottawa West-Nepean. "The brains and know-how of a skilled workforce are the economic edge of the 21st century, that is why we are ensuring that our postsecondary education and training system is among the best in the world."

See also:
* Backgrounder: Reaching higher in postsecondary education