Latest news with #operatingbudget
CTV News
28-05-2025
- Business
- CTV News
UPEI approves budget and tuition increases for 2025-26 academic year
The Board of Governors at the University of Prince Edward Island (UPEI) approved an operating budget that increased by more than $20 million over the previous fiscal year, said a news release from the university. The board announced a 2025-26 operating budget just under $202.9 million – an increase of 11.2 per cent – on Tuesday, despite financial challenges caused by changes to federal immigration policy, said the release. 'We are at a particular time in the history of the University where, in addition to the typical budget pressures like inflation, we are being challenged by federal immigration policies, which have negatively affected universities across the country,' said Dr. Wendy Rodgers, UPEI President and Vice-Chancellor. UPEI said it has been significantly impacted by caps on international students implemented by Immigration, Refugee and Citizenship Canada (IRCC) in 2024. International enrolment of first-year students has declined by approximately 50 per cent and is projected to decline further in 2025-26, said the release. The university said it focused on short and long-term strategies including a 3.5 per cent increase to the province's core operating grant and tuition increases to address the loss of revenue without restrictions or reductions. Tuition for domestic students will increase by 6.5 per cent for the 2025-26 academic year but the university still has the lowest fees in the region, said the Maritime Provinces Higher Education Commission. Domestic students will pay $46 dollars more per 3-semester-hour credit course or $460 for a full-time student with a full courseload under the new budget. Tuition for international students will increase by 7.5 per cent, or $630 for full-time, undergraduate students. A portion of fees will fund and emergency bursary for international students. 'Through budget strategies developed collaboratively and transparently with University leaders, and with support from the Government of Prince Edward Island, we have achieved a balanced budget for 2025–2026,' said Vice-President Tim Walker. For more P.E.I. news, visit our dedicated provincial page.
CTV News
07-05-2025
- Business
- CTV News
Cape Breton University approves $106M operating budget, plans to cut dozens of staff positions
Cape Breton University's Board of Governors approved a $106.5 million operating budget. (Source: Ryan MacDonald/CTV News Atlantic)
