Nipissing University will take a financial hit with lower tuition announced today, but in a news release says a government fund should help the institution adapt.
See: College and university students getting a 10 per cent tuition cut
And: NUSU officials wonder what cost comes with tuition cuts
"Nipissing University remains committed to the delivery of services and supports that students rely upon in an efficient manner without compromising quality," says the statement.
The financial impact of the tuition reduction is estimated to be approximately four per cent of Nipissing University’s annual operating revenue.
"Nipissing University welcomes the announcement that the Government of Ontario will administer a fund to help smaller Northern institutions adjust to the tuition reduction. As northern universities experience unique challenges and opportunities, in the coming weeks and months we plan to work with our partners in the government to ensure that the distinct and important contributions which Northern Ontario institutions bring to their communities are sufficiently supported, allowing Nipissing University to continue to drive economic growth across Northern Ontario."
The university has an enrolment of approximately 4,700 undergraduate students and over 150 graduate students and is one of the top three employers in North Bay.
The annual economic impact of Nipissing University on the North Bay region is over $130 million per year, with an estimated 1,229 full-time jobs created as a result of the economic activity, according to the university.
