March 20, 2007
OSHAWA, Ont. – Durham College President Leah Myers welcomes the positive investment in post-secondary education outlined in yesterday’s federal budget.
“Yesterday’s budget demonstrates the federal government’s commitment to improved investment in post-secondary education today and in the years to come,” said Myers. “Colleges make a significant contribution to Canada’s prosperity and Durham College’s commitment to quality, access and success for all of our students and programs will benefit from this increased investment.”
The budget outlines an additional $176 million in funding for colleges and universities for 2007/2008 through increased Canada Social Transfer (CST) funding and an additional $800 million investment in post-secondary education across the country beginning in 2008/2009.
“Finance Minister Jim Flaherty breaks new ground in making the CST fairer to Ontario by allocating cash support on a per capita basis to ensure equal treatment of all provinces with respect to the funding of post-secondary education,” said Myers.
The budget also makes specific commitments to:
- New and long-term funding of $500 million per year beginning in 2008/2009 for strengthened labour market programming including literacy and basic skills upgrading, much of which is delivered through colleges;
- Improved funding for applied research collaboration between colleges and industry;
- Increased access and support for underrepresented groups and new immigrants; and
- Modernized student financial assistance programs.
“These are all important priorities for Durham College. I look forward to more details on how and when colleges will be able to use the additional funds,” added Myers.
The budget also offers $2 million over the next two years to launch a new international education marketing campaign to attract students to Canada and addresses post-secondary costs for students and their families by eliminating the $4,000 limit on annual Registered Education Savings Plans (RESPs), increasing the lifetime RESP contribution limit from $42,000 to $50,000, and boosting the maximum Canadian Education Savings Grant annual amount from $400 to $500.
About Durham College
For close to 40 years, Durham College has provided high-demand programs, professors with real-world experience, the latest technology, and an unwavering commitment to student success. Number one in the Greater Toronto Area based on a combined ranking in the areas of student, graduate, and employer satisfaction; graduate employment; and graduation rate for seven years running according to the provincial government’s indicator surveys, the college also has the highest graduate employment rate – 93.1 per cent – of all six GTA colleges. The college has close to 6,000 full-time students and close to 80 different postsecondary programs, as well as 23,000 part-time registrations and over 1,500 registered apprentices. For more information, visit the website at www.durhamcollege.ca or call 905.721.2000.
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