On Monday afternoon, the Ontario government introduced a suite of measures aimed at stabilizing the province's colleges and universities, including nearly $1.3 billion in new funding, while maintaining the tuition fee freeze that has been in place since 2019. 

The province is also set to introduce legislation that would, if passed, support student mental, safe and inclusive campuses, and allow for increased transparency of fees. 

"Instead of burdening hard-working families with higher tuition, we're making historic investments to stabilize colleges and universities. We're taking action to make fees more transparent," said Jill Dunlop, Minister of Colleges and Universities.

Part of the stabilization involves extending the province's tuition fee freeze for publicly assisted colleges and universities for at least three more years. Institutions will be able to increase tuition by no more than five per cent in 2024-25 for out-of-province domestic students.

The tuition freeze will continue until at least 2026-27. Since its introduction, the province says students and parents have saved an estimated $1,600 per year on average for university and an estimated $350 per year on average for college. 

A government-commissioned report in November revealed that low levels of funding to universities and colleges, along with a tuition cut and freeze in 2019 were posing a "significant threat" to the sector's financial sustainability. 

Still, the province plans on investing nearly $1.3 billion over three years to stabilize postsecondary institutions, including $903 million through the new Postsecondary Education Sustainability Fund, $167.4 million in additional funding for capital repairs and equipment, and $100 million to support STEM program costs at publicly assisted colleges and universities with enrolments above currently funded levels.

The Strengthening Accountability and Student Supports Act, 2024 would also, if passed, require colleges and universities to have policies in place relating to mental health and wellness supports, as well as requirements for postsecondary institutions to have policies in place to combat racism and hate. 

The act would also authorize the Minister to issue directives requiring colleges and universities to provide information about ancillary fees and other student costs, including costs for textbooks and other learning materials. 

The province says this could include ensuring that fees are published by institutions in a consistent manner, such as publishing costs in a course syllabus. 

The provincial government also plans on launching a career portal to help students and newcomers understand labour market needs and make informed decisions on postsecondary education.