ON introduces performance-based funding for postsecondary institutions

December 1, 2020
The Government of Ontario has announced that is has signed agreements with public postsecondary institutions to implement performance-based funding. ON states that the performance-based funding is intended to help ensure that students will be able to find employment after graduation and will put a greater emphasis on student outcomes. ON will use ten metrics to measure performance that include graduate employment rates, experiential learning, economic impact of an institution, and research funding. “The new agreements will also encourage transparency and accountability by ensuring that the spending of public dollars results in positive economic outcomes for Ontario,” said Ross Romano, Minister of Colleges and Universities. ON (ON)