Ryerson welcomes provincial budget initiatives aimed at students

Ryerson welcomes the continued investment in the Ontario budget in helping students pursue university education and acquire real-life experience that will help them launch their careers in this fast-changing economy.

Further enhancements were announced to Ontario Student Assistance Program (OSAP) to ensure that contributions to a Registered Education Savings Plan will not reduce the amount of financial assistance to a student. Also the earning threshold at which individuals start repaying their student loans moves from $25,000 to $35,000.

These budget initiatives are in addition to last year's changes to OSAP, which are designed to remove barriers to access so that all students have the opportunity to reach their potential regardless of financial means. Applications to Ontario universities are up 1.8 per cent over last year in spite of demographic declines

The budget also reiterated an earlier announcement to invest nearly $190 million over three years to support the Career Kick-Start strategy, which will help universities and colleges partner with employers to create career-oriented learning experiences for students and graduates. 

The investment will include support for 3,000 high-impact industry-led research internships through the Mitacs Accelerate program as well as 140 additional internships and fellowships per year in the TalentEdge program.

"Investments in students are critical to providing the talent that drives the economy," said Mohamed Lachemi, Ryerson president and vice-chancellor. "We will also continue to work with the government to ensure the necessary support for quality education and the increasing range of services which universities provide our students."