Budget 2020 – Advanced Education
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MEDICINE HAT, AB – Advanced education funding went over budget in 2019 by more than $350 million with the province looking for post-secondary institutes to trim nearly that same amount in Budget 2020.
According to the budget, the first of the provincial government’s three-phase approach to the issue will be to shift away from funding increases to all of Alberta’s 26 post-secondary schools. The budget also introduces a new funding framework called, “investment management agreements,” whereby base funding will be provided along with performance expectations.
Post-secondary schools will also be encouraged to generate their own revenue streams as Budget 2020 looks to see institutes fund 48 per cent of operating costs, up from 43 per cent in the 2018-19 fiscal year. Post-secondary schools are forecast to fund 47 per cent of their operating expenses in the 2019-2020 fiscal year.
Student aid for students is expected to drop from this fiscal year’s $238 million to $207 million in 2020-21.
