By CAUT Staff
The federal budget did not make needed investments in postsecondary education or protect colleges and universities from corporate insolvency.
Find CAUT’s full analysis of the federal budget on our website.
CAUT hoped that the government would invest in research and graduate student scholarships, increase transfers to the provinces to support affordable post-secondary education, and exclude public universities and colleges from the Companies’ Creditors Arrangement Act. As tuition fees and the cost of living continue to rise, CAUT recommended that the budget permanently double the value of the Canada Student Grant. Moreover, this budget supplies no new operating funding nor investments in basic research.
Budget 2023 highlights for post-secondary education:
- Increasing Canada Student Grants by 40% in 2023-2024
- Raising the interest-free Canada Student Loan limit fro$210 to $300 per week of study
- Waiving the requirement for mature students, aged 22 years or older, to undergo credit screening to qualify for federal student grants and loans for the first time
- $197.7 million in 2024-2025 to extend the Student Work Placement Program
- $108.6 million over three years, starting in 2023-2024, to expand the College and Community Innovation Program.