Ontario Implements Performance Based Funding for Post-secondary Institutions

0
Ross Romano

The Ontario Government is working to ensure post-secondary institutions offer programs that align with labour market demands.

“Our government believes in making institutions accountable for student success,” said Ross Romano, Sault Ste Marie MPP and Minister of Colleges and Universities. “That’s why we are making sure Ontario’s publicly-assisted post-secondary institutions have a clear mandate that is focused on meeting the needs of students and equipping them to succeed in rewarding careers.”

Romano announced this week that the Province has signed what it calls historic agreements with public colleges and universities that it says will revolutionize Ontario’s post-secondary public education institutions.

The agreements introduce a performance-based funding model that places emphasis on student and economic outcomes.

“Placing a greater emphasis on outcomes will encourage colleges and universities to be more efficient and specialized, and to focus on what they do best,” said Minister Romano. “The new agreements will also encourage transparency and accountability by ensuring that the spending of public dollars results in positive economic outcomes for Ontario.”

The government will measure performance against a set of 10 metrics, with institutions reporting on indicators such as graduate employment rates in related fields, experiential learning and graduate earnings.

With the COVID-19 pandemic still presenting some challenges to Ontario’s post-secondary sector, the link of institutions funding to performance metrics will be delayed until 2022.

Data collection, evaluation and publication will begin this year.