All Posts Tagged With: "money"
Lazaridis donates $21 million to Waterloo
RIM founder’s gifts now total $123 million
The founders of Research In Motion (RIM), the Waterloo, Ont. based produce of BlackBerry products, have fallen. But one of them, Mike Lazaridis, is ready to make a new investment. He and his wife Ophelia pledged $21 million to the University of Waterloo on Wednesday. “History has shown us that a relatively small investment in fundamental research in physics and in science today can lead to huge innovation tomorrow,” Lazaridis said. The money will fund chairs in condensed matter and astrophysics, a new science building and scholarships for mathematics students. The couple have donated $123 million in total, after funding the Institute for Quantum Computing and the soon-to-open Quantum Nano Centre. To get a sense of how big those donations are, consider that only one gift to a Canadian university exceeded $20 million last year, reports Academica.
Funding cut and tuition to rise in Nova Scotia
Presidents and student groups complain
Nova Scotia flag by Makaristos/Wikimedia
University presidents and student groups in Nova Scotia are angry about a new three-year funding agreement that includes a three per cent funding cut and a three per cent tuition rise, which is roughly equivalent to annual inflation.
After a four per cent cut last year, plus inflation, there is now a $75-million hole in budgets system-wide, John Harker, chairman of the Council of Nova Scotia University Presidents and president of Cape Breton University told the Chronicle Herald.
The Nova Scotia chapter of the Canadian Federation of Students called the agreement “disappointing.” In a release, chair Maxime Audet said this: “tuition fee increases coupled with reductions in government funding means students in Nova Scotia will be paying more and getting less.”
Continue reading Funding cut and tuition to rise in Nova Scotia
Ontario tuition credit coming (for some) in January
CFS and opposition want credit extended to all families
*To see a more up-to-date version of this evolving story, click here.
Despite Ontario’s woeful fiscal situation, the Liberal government says it will make good on its promise to offer 310,000 students tuition rebates—$730 per college student and $1,600 per university student. At $6,500, Ontario has the highest average university tuition in the country.
Those receiving Ontario Student Assistance Program funding will automatically get the rebates in January, which will be credited online in time for second semester payments, according to CTV News. Other students will need to apply through a website that will be available in January.
Five out of six families with students will be eligible for the rebate—but families who make more than $160,000 will be left out. The Canadian Federation of Students presented a 40,000-signature petition to the legislature asking for the $423-million annual cost of the rebate program pay for a 13 per cent reduction in tuition fees for all students instead. The opposition New Democrats and Progressive Conservatives agree that all students—not just some—should get a break on tuition.
*Editor’s Note: In a comment below, Glen Murray, Minister of Training, Colleges and Universities, addresses who is eligible for these particular grants. The 30 per tuition reduction applies to students who are within four years of high school graduation, registered in a first-entry undergraduate university or college programs, and from families with incomes lower than $160,000. He notes that there are other provincial programs available for other students.
Where the rich kids go
Guess which universities get the least student financial aid
From Queen's Players "I go to Queen's!"
You know the stereotype that Queen’s University attracts rich kids? The one played up in this recent viral video in which a student jokes: “I don’t know what financial aid is, but Queen’s has it.”
Well, if the number of students receiving financial assistance is any indication, it’s very likely true.
Queen’s University has the lowest number of students receiving Ontario Student Assistance in the province: only 29.6 per cent of students.
Contrast that to Nipissing University in the relatively poorer north of Ontario, where twice as many—59.6 per cent—get loans. It’s almost as high at Trent University—59.3 per cent.
Feds will fund projects for women on campus
Minister cites recent sexual assaults
Minister Ambrose on June 15, 2011.
The federal government is planning to fund projects to address violence against women on university and college campuses.
Rona Ambrose, Minister for Status of Women, told the Canadian Press that recent attacks on Canadian campuses are a reality check.
“Yes, there are good programs out there being offered by institutions like universities and colleges but we need to do more,” she said.
Women have been targeted by sexual predators at schools across the country this year. On the weekend, there were two incidents of possible sexual predators near the University of Windsor. Earlier this month, female students near Vancouver Island University in Nanaimo, B.C. allege they received the date-rape drug GHB. In the spring, York University experienced two alleged sexual assaults and the murder of Qian Liu, a student from China. In April, four female McGill University students were physically assaulted.
Continue reading Feds will fund projects for women on campus
McGill Principal defends herself
Protesters were “masked and hooded”
McGill Principal Heather Munroe-Blum told the Montreal Gazette yesterday that she is “sorry” to students who were hurt by pepper spray when riot police showed up at the administration building on Nov. 10. Students have called the response to their occupy-style protest heavy-handed. But Munroe-Blum defends herself by stressing that the occupiers were “masked and hooded,” which frightened the staff. She also added, “when you call the police you don’t tell them how to do their job.” The pepper-spraying at McGill came the same day tens of thousands of Quebec students marched in protest to the annual tuition rise of $325, which will bring fees more in line with the Canadian norm by 2017. Munroe-Blum continues to defend the tuition increases as a way to compete with better-funded schools like the University of British Columbia and University of Toronto. Three police officers at the University of California Davis are on leave after pepper-spraying 11 seated students at an Occupy protest Friday. Those protesters were not masked.
Canada’s most lucrative business schools
Hint: the top three aren’t in Toronto
#4. Schulich at York by of Elango on Flickr.
Canadian Business has released its annual MBA Guide and, along with it, a slideshow that shows potential students what they want to know most—which MBA gets the best return on investment?
Here are the top five MBAs in Canada by R.O.I.
1. Desautels (McGill, Montreal, Que.)
Entering Salary: $49,000
Starting Salary: $112,000
(Tuition $65,000)
2. Dalhousie (Halifax, N.S.)
Entering Salary: $33,000
Starting Salary: $67,000
(Tuition $38,879)
Rock-bottom prices on The Rock
Why students are flocking to Memorial University
Memorial University student. By Andrew Tolson.
The 21st Maclean’s University Rankings includes a close look at Atlantic Canada’s schools. To read more, buy your copy today.
Amber Haighway, a fifth-year music education student at Memorial University (MUN) in St. John’s, Nfld., has many jealous friends studying in places like Toronto, New Brunswick and back home in Nova Scotia. They say things like, “I can’t believe you pay that little for a whole semester—that’s the price of one course at my school.” It’s not far from the truth. As the Glace Bay native explains, “it’s more affordable to travel from Nova Scotia and pay for school, books and housing in Newfoundland than to go 10 minutes down the road to Cape Breton University and live at home with my parents.”
Quebec launches site to sell tuition increase
Students react swiftly with copycat site
Minister Line Beauchamp from Quebec Gov. Video
Quebec’s Liberal government has launched a new website to convince students of the fairness of the annual $325 tuition fee increase that will bring tuition to $3,793 in 2016-17.
But a coalition of student groups quickly launched their own anti-tuition website, which looks almost exactly the same as the government’s.
Student groups cried foul last week when they learned that Quebec had budgeted $50,000 for Internet advertising, including some that attempts to re-route Internet users to the governments’ site whenever they search the names of activist organizations on Google, reported La Presse.
Tens of thousands of students protested the Charest governments’ increase last week, despite the fact that Quebec will continue to have some of the lowest fees in North America even after the rise.
Continue reading Quebec launches site to sell tuition increase
Canada’s entrepreneurial campuses
Six programs for ambitious undergrads
Photo by Birmingham City University on Flickr
From the 21st Maclean’s University Rankings—on sale now. Story by Sandy Farran.
It’s the stuff of dreams: in early 2009, University of Waterloo engineering student Ted Livingston set out to design an instant messaging app while taking part in Waterloo’s VeloCity Residence program, an intense four-month incubator for student start-ups. The program provided Livingston with regular access to an entrepreneur-in-residence, use of the latest technology, a collaborative work space, exposure to community mentors and the support of like-minded peers.
The entrepreneurial skills that Livingston acquired while in the VeloCity program propelled his instant-messaging app from the idea phase, in early 2009, to a downloadable app in the fall of 2010. Since then, four million users have downloaded the free technology (called Kik Messenger), investors have come knocking, and Livingston has donated $1 million to his alma mater to help other student entrepreneurs.
How to justify purchasing a smartphone
Eight apps that can help students save money
Smartphone photo by leyla.a on Flickr.
From the Maclean’s University Rankings. For more university advice, get your copy today!
Let’s face it: university is expensive. Between tuition, textbooks and having a social life, the cost adds up quickly. Luckily, smartphones can cut costs with a range of apps designed to manage money and track expenses. Forget bank tellers. Since the first mobile banking application became available in Canada in early 2010, the number of Canadians using daily mobile banking has climbed to more than 2.5 million, according to a July report by the Toronto-based Solutions Research Group.
Not surprisingly, the number of apps has also exploded. Here, in no particular order, are the top eight for saving money via your smartphone.
1. Mobile banking apps
Cost: Free
Available for: iPhone, iPod Touch, Android, BlackBerry or any Internet-enabled device
Standing in line at the bank is as exciting as a library tour. Luckily, Canada’s “Big Five”—the Royal Bank of Canada, Toronto Dominion Bank, Bank of Nova Scotia, Bank of Montreal and Canadian Imperial Bank of Commerce—all offer a full suite of mobile apps for everyday banking transactions such as checking account balances, paying bills, and transferring money. Plus, you can use your bank’s ATM locator to avoid wallet-gouging fees from machines outside your bank’s network.
Is the U.S. tuition system more progressive?
Why Canadian students graduate with more debt, not less
Too much debt? Photo by Zach Klein on Flickr.
Canadians are graduating with more debt than their American counterparts—despite the well-known higher sticker prices south of the border.
In the U.S., average debt at graduation rose to $25,250 in 2010, according to a Nov. 3 report by the Project on Student Debt. Here in Canada, students were graduating with an average debt of $26,680 according to a 2009 report released by the Millennium Scholarship Foundation. If anything, the Canadian average is higher now.
The numbers seem almost impossible: isn’t tuition ridiculously high in the U.S.?
Continue reading Is the U.S. tuition system more progressive?
Students expect “shockingly” unrealistic paycheques
Career expectations differ by generation
Photo by jauhari on Flickr
How much money do university students expect to make once they’re established in their careers?
The answer, revealed in a new study on the differences between generations’ career expectations, is one that Professor Sean Lyons, co-author of the study and University of Guelph business professor, finds “shocking.”
Millenial students, those are born in 1980 or later, expect average first-year salaries of $48,860 for men and $42,060 for women. That’s not much above what current university graduates actually make: $43,119 for men and $35,926 for women.
What’s surprising is that, after five years, Millenial women expect to make an average of $67,766 and Millenial men expect to rake in $84,868. To get there, men would need average annual salary increases of 14.8 per cent and women would need to grow their salaries 12.8 per cent per year. In real life, the average annual salary increase per year in more like three per cent.
Continue reading Students expect “shockingly” unrealistic paycheques
Obama offers students debt relief
News comes as study reveals rapidly growing tuition rates
Photo by feelsgoodlost on Flickr
As some American students continued their Occupy protests on Wednesday, President Barack Obama was being cheered by other students in Colorado where he announced he will speed up his initiatives to help students overcome debt.
“We should be doing everything we can to put college education within reach for every American,” the President said in what CNN describes as a “campaign-style event.”
Obama announced that a program to limit the repayment of federal student loan debt to 10 per cent of discretionary income will start next year, instead of the year after. And he said that students will be able to consolidate public and private loans to save on interest charges.
Manitoba to offer free health care to foreign students
Taxpayer watchdog opposed
University of Manitoba by sanchom on Flickr
Starting next April, foreign students attending high schools or post-secondary schools in Manitoba will get free health care coverage for themselves and their dependents, reports the Winnipeg Sun. That will save them roughly $400 each annually on private health insurance.
But the Canadian Taxpayer Federation’s Manitoba director says it’s “madness” for the province to pick up the tab, citing a growing provincial debt.
A spokesperson for the Ministry of Health defended the decision, saying that providing free health care to the province’s 3,200 international students and their families will give Manitoba a competitive advantage in recruiting more students, who may eventually settle in the province. The official did not provide an estimate of how much the program will cost, but suggested it will be minimal because most students are young and healthy.
Continue reading Manitoba to offer free health care to foreign students
Foreigners flock to Norway for free tuition
But how long can it last?
University of Oslo photo by Josh Dehaas
Norway is one of the last remaining countries where foreign students can attend university without paying a cent of tuition money. But with free school increasingly rare, how long can it last?
Shocking as it may seem to many Canadians, Norweigians don’t charge any tuition to anyone—which was, until recently, normal in Scandinavia. Now, Denmark, Finland and Sweden all charge tuition fees, leaving Norway the only free option.
It should be unsurprising then to learn that foreigners are choosing Norway more often than ever. When non-European Union students were charged tuition fees for the first time this year in Sweden (up to $21,000 each), applications dropped 85 per cent. Meanwhile, Noway’s University of Oslo experienced a 60 per cent rise in popularity. Since 2008, the number of foreign students in Norway is up 27 per cent overall.
Continue reading Foreigners flock to Norway for free tuition
Do you know where your student fees are going?
Most student unions aren’t transparent about your cash
Angry about fees. Photo by DWallis on Flickr.
Details on student fees—that ever-growing list of mandatory payments tacked onto tuition bills, mainly by student unions—isn’t easy to find.
Students are often outraged when they do find out—often in their fourth year—that they’ve paid dozens of fees to causes they don’t support.
That’s why students at the University of Alberta recently offered a presentation called “Students’ Union Fees Used to Spread Hate,” during which the speakers argued that many students are unwittingly paying mandatory fees that go to the Alberta Public Interest Research Group, which supports the always-controversial—they say hateful—Israeli Apartheid Week (IAW).
Continue reading Do you know where your student fees are going?
How parental income can kill your student loans
Parents are expected to pay. But what if they can’t or won’t?
Photo by kenteegardin on Flickr
University of New Brunswick student Ben Whitney has a $5,000 hole in his budget this year thanks to the re-introduction of the parental contribution requirement for student loan funding in that province. He was loaned $8,000 last year, before the change. This year, the third-year student got just $3,000 because of what his parents—a middle manager and a secretary—took home last year from work. The 20-year-old’s parents are expected to make-up the difference. It’s money that Whitney says his parents don’t have this year.
But the issue of parental contributions, which he’s taken up with verve, means a lot more to him than sudden penury. “It’s also a matter of principle,” says Whitney. “As an adult, I shouldn’t have to depend on my parents until I’m 22,” he says. “It’s also a matter of pride to have to call my parents and ask, can you send me $20 so I can buy a bottle of shampoo?” he says. But he can’t afford such luxuries otherwise, even with a part-time job.
Continue reading How parental income can kill your student loans
Ryerson to decide on $10 fee for radio station
Previous station shut down by CRTC
Ryerson's Ted Rogers School by ⌘N on Flickr
On Ryerson University’s Toronto campus Tuesday, newspaper boxes and streetlight polls were been plastered with advertisements urging students to vote for a new student-owned radio station in a referendum next week. The old campus station, CKLN-FM, was famously shut down in a rare move by the Canadian Radio-television and Telecommunications Commision in January. “York University has one,” reads one poster created by supporters of a new station.
But will that be enough to convince students? The cost, a mandatory $10.35 charged annually to each and every student, has caused an opposition group to organize against the proposal. The vote will happen between Oct. 24 and 26. Mark Single, a fourth-year engineering student, started the No to Ryerson Radio Committee: “Supporters see this as another way to grab money from students’ pockets who don’t have money in the first place,” he told The Eyeopener.
Continue reading Ryerson to decide on $10 fee for radio station
Are young Canadians really better off than young Americans?
Why our leaders shouldn’t dismiss the Occupy Movement
Occupy Winnipeg photo by marygkosta on Flickr
Jamie Weinman has a post on Maclean’s.ca suggesting that student debt is fuelling the Occupy Everywhere protests. Weinman quotes this Washington Post article by Ezra Klein who writes that “college debt represents a special sort of betrayal.” He says he began supporting the protests after seeing a photo on the Tumblr site, “We are the 99 percent.” It was of a handwritten sign by a student that said: “I did everything I was supposed to and I have nothing to show for it.”
Their point is this. While many of the people hurt by the financial crisis should have known better—people who took out mortgages they knew they couldn’t afford and bankers who invested in financial instruments they knew were overrated—students who took on debt are different. They went into debt because they had been told repeatedly by parents, teachers, politicians and the media that educational debt is a sure route to higher paying jobs. Now that we know that’s often untrue, can we really blame them for being angry?
Continue reading Are young Canadians really better off than young Americans?
