University Committed to Continued Fiscal Responsibility and Student Experience
Halifax, NS – On May 31, the Mount Saint Vincent University (Mount) Board of Governors approved a balanced budget with a combination of budget cuts and a planned tuition increase.
Under the approved budget, tuition will increase by three per cent for domestic students in 2012/13, while the international student differential fee will increase by four per cent. The Mount’s commitment to students through financial support will be maintained through the availability of more than $1.7 million in scholarships and bursaries.
“While the Mount is committed to living within our means, our number one priority is continuing to provide a high-quality experience and an exceptional education to our students,” says Brian Jessop, Vice-President, Administration. “Given the current fiscal reality, it’s critical for us to continue to operate in a prudent manner, while still providing effective support to those who need it most. We’ve maintained our funding for key student service areas, for example, including disability and counselling services.”
There will be no layoffs as part of the budget. Additional savings will be generated by the elimination of credit cards as a method of paying tuition and residence, and is in keeping with the practice at most universities in the province. Members of the management team have also voluntarily agreed to forego any salary increases. Greater efficiencies in areas such as energy utilization and operating budgets will also contribute to balancing the budget.
Under a signed Memorandum of Understanding (MOU) between the government and universities, the Province of Nova Scotia announced a three per cent funding reduction in the grant provided to universities for this year, on top of last year’s four per cent funding reduction. In total, the Mount’s grant from the government has been cut by $1.6 million over two years.
About Mount Saint Vincent University
Recognized as a leader in flexible education, applied research, and a personalized approach to education, Mount Saint Vincent University has been nationally recognized among undergraduate universities in Canada for our success in Social Sciences and Humanities Research Council grants and for having one of the lowest student-to-professor ratios. The Mount is committed to providing the best university experience for all members of our community and to developing thoughtful, engaged citizens who make a positive impact on their world. For additional information about the University, visit msvu.ca.
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