Universities brace for potential billion dollar loss over Canada’s international student cap

The Council of Ontario Universities said they’ll be hit with a multimillion-dollar loss next year, following the federal government’s cap on international students.

Federal Immigration Minister Marc Miller announced the new rules in January to limit the number of international students attending post-secondary institutions in Canada.

“Look, we've got two years to actually get the ship in order. It's a bit of a mess. And it's time to rein it in,” Miller said.

Ontario Universities were prepared for an increase but said they aren’t to blame for the number of in international students coming into the country.

“We were responsible,” said Steve Orsini, president and CEO of the Council of Ontario Universities. “We manage our enrollment growth very carefully. We had wraparound services, we had a code of conduct. All universities agreed to make sure international students have the supports when they come here.”

More details about the policy were announced last month, with the federal government lowering the limit of international students by around 50,000 over the next two years.

The University of Waterloo, Wilfrid Laurier University and the University of Guelph all reported multimillion-dollar losses last year.

This new cap only adds to their financial struggles.

Ontario Universities is expecting even more losses next year.

“Ontario universities are facing a $300 million loss in revenue compared to last year, growing to more than $600 million next year. That's a profound impact on our sector,” Orsini said.

He’d like to see the government rework the plans to take the pressure off universities and, instead, put it on those who created the problem.

“Focus on the bad actors, target their measures to where it's needed most, but also ensure that we can entice the best and brightest from around the world. We need those skills to help grow our economy,” said Orsini.