Former Ontario Premier Bob Rae released his much-anticipated report on post-secondary education yesterday, calling on the McGuinty government to invest substantially in colleges and universities.
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The report, entitled Â?Ontario: A Leader in Learning,Â? says post-secondary institutions need at least $1.3 billion in new base funding for undergraduate and graduate programs.
It also calls for a $300 million overhaul of student assistance programs, including new upfront grants for more than 95,000 low-income students, as well as more access to loans that better reflect the actual costs of study for low- and middle-income students.
Rae calls on the federal government to focus its student assistance on living costs, and follow the province's lead in providing substantial upfront grants and improved loans to meet student need.
He proposes that a coordinated system with the federal government would enable graduates to repay their loans at rates tied more directly to their incomes.
The report said tuition will eventually have to go up, but not until the student assistance system is reformed and government has made significant new investments. Tuition levels would be set by institutions, subject to a new provincial regulatory framework that ensures predictability, transparency and affordability for students.
Â?I have had the rare opportunity to help start a discussion, and even a debate, on a critically important subject,Â? said Rae. Â?Higher education matters. It matters for each of us as individuals, it matters to our society and our economy.Â?
Rae's report can be viewed at raereview.on.ca.
