Université de Moncton announces $1.5M surplus, tuition hike coming
The Université de Moncton has a surplus of $1.5 million for its 2024-2025 budget, but it will be increasing tuition.
On Saturday, the university’s board of governors announced the surplus and approved a three per-cent tuition hike for all students.
In a news release, the university stated the increase in international enrolment over the past few years has allowed it to manage a favourable financial situation.
An increase in enrolment has also enabled the institution to make strategic investments as of late.
In January, the federal government moved to cap the number of study permits for international undergraduate students for the next two years.
The Université de Moncton said that cap announced by Immigration, Refugees and Citizenship Canada adds a great deal of uncertainty to international enrolment for the next academic year.
Université de Moncton president and vice-chancellor, Dr. Denis Prud'homme, said the school is pleased to learn that the number of record letters for international students allocated to them will increase.
“Thus enabling us to welcome more students than we had anticipated when the new policy was announced,” said Prud'homme in the release. “However, many factors remain uncertain, and we need to be prudent in our spending as well.”
The board stated the budget will allow them to make investments in flagship projects a priority.
For more New Brunswick news visit our dedicated provincial page.
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