Province takes immediate action to help ensure students can continue their studies
TORONTO — Today, Ross Romano, Minister of Colleges and Universities, issued the following statement in reaction to Laurentian University filing for court protection under the Companies’ Creditors Arrangement Act (CCAA) to address the significant financial challenges they indicate they are facing.
“It is deeply concerning that Laurentian University has found itself in a situation where such drastic and immediate action is needed to ensure its long-term sustainability.
In response, the government has appointed Dr. Alan Harrison as a special advisor to advise me on options to support Laurentian’s path to return to financial sustainability, and ultimately drive Laurentian’s long-term competitiveness and success.
Laurentian University students remain the government’s priority and we are focused on ensuring they can continue their studies without interruption.
As a Minister from Northern Ontario, I will continue to be a fierce advocate for Northern communities to ensure that we have access to high-quality and sustainable postsecondary education in the North.
There is no doubt that this situation is unprecedented. The government will be exploring its options, which could include introducing legislation to ensure the province has greater oversight of university finances and to better protect the interest of students and Ontario taxpayers. The government wants to ensure this issue does not repeat itself in other institutions in the postsecondary educational sector.”