Canadian universities face up to $3.4 billion in losses due to COVID-19
According to new research by Statistics Canada, Canadian universities could be facing losses ranging between $377 million and $3.4 billion. The impact of the COVID-19 on Canadian universities was assessed by examining five possible scenarios. The two determining factors affecting the outcome were changes in international and domestic student enrolment. The losses primarily come from a decrease in the numbers of international student tuitions, which accounts for 40% of all tuition fees at Canadian universities and generated $4 million in 2017-2018. The study also highlighted the growing reliance on tuition over the past decade. Reliance on tuition has grown substantially due to foreign students,” who pay substantially higher tuition than domestic students and account for an increasing share of post-secondary students in Canada,” the report says.
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