Loyalist College, along with other colleges in Ontario, will benefit from an announcement from the Minister of Colleges and Universities.
Minister Ross Romano was at Loyalist College, along with Bay of Quinte MPP Todd Smith to announce a new policy to support college-private partnerships.
This partnership will allow colleges to be more financially competitive by cutting red tape.
Romano said “Through these partnerships, students will get the education and training they need for good jobs so Ontario businesses have the skilled workforce to grow and make Ontario open for business and open for jobs.”
Smith said this policy will allow the college to build a partnership that will provide a new revenue stream for the college.
He said the funds can go towards infrastructure such as new laboratories, residence buildings and new athletic structures as they will have a revenue stream they can depend on.
Colleges will be able to deliver their programs to more students in more locations and can be invested back into the colleges’ main campuses and local communities.
Dr. Ann Marie Vaughan, Loyalist College President & CEO, said the announcement will enable them to respond more quickly to regional labour market needs by streamlining the program approval process and will offset the province’s declining domestic student population.
Six publicly assisted Ontario colleges (Cambrian, Canadore, Lambton, Northern, St. Clair and St. Lawrence) currently have private partnership agreements for the delivery of programs leading to an Ontario college credential in Canada.
The partnership will also give colleges more flexibility to meet strong demand from international students for Ontario’s high quality post secondary education.
