OSHAWA, Ont. - Ontario's efforts to produce a highly skilled and trained workforce were bolstered yesterday by the McGuinty government's new bursary program for students, said Dr. Gary Polonsky, president of Durham College, and the University of Ontario Institute of Technology (UOIT).
"This is a significant announcement for the province's colleges and universities, and their students," added Dr. Polonsky. "It will help Ontario to deliver career-focused education and training to more students."
Chris Bentley, the Minister of Training, Colleges and Universities, announced Wednesday the creation of a new trust will make up to $50 million available every year for student bursary assistance and expand the fundraising capacity at colleges and universities.
Bentley said the government will make $50 million available every year to match private and corporate cash donations towards endowment funds. The income generated by the endowment funds will be used to support students who need assistance.
The funding is expected to make an additional $5 million available each year in bursary assistance, increasing the number of bursaries by 2,700 each year.
Bentley announced that there would be enhanced funding for colleges and universities that have endowments of less than $1,000 per student under the government's former Ontario Student Opportunity Trust Fund. He said those institutions would receive three-to-one dollar matching from the government for every dollar raised above their historic average, for up to either three years or until the institution reaches the $1,000-per-student threshold.
"This announcement is welcome news for students who face financial barriers to post-secondary education. The enhanced bursary program will provide greater opportunities for students to receive high quality education to become the leaders of tomorrow," said Thomas Coughlan, president of the Durham College and UOIT Student Association.
"The announcement also reaffirms the Ontario government's commitment to post-secondary education and training," added Dr. Polonsky. "This support is crucial as Ontario strives to produce highly educated and highly skilled graduates for today's knowledge economy."
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About Durham College
For 38 years, Durham College has been committed to providing job-focused programs, accomplished professors, quality-driven innovation, student success and superior accountability. Durham College has ranked first in provincial indicators for student satisfaction in the GTA for six years running, and at an 89.7 per cent grad employment rate, it have the highest ranking of the six GTA colleges. The college has over 5,800 full-time and 23,000 part-time students enrolled in just under 100 programs, as well as about 2,000 apprentices. For more information, visit the website at www.durhamcollege.ca, or call 905.721.2000.
Media contact:
Heather Middleton
Communications and Marketing
905.721.3111 ext. 2197
heather.middleton@dc-uoit.ca
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