SACKVILLE, NB – At its Spring Meeting on May 18, Mount Allison University’s Board of Regents approved the 2021-22 annual operating budget.
This year’s budget will include a three percent tuition increase; annual tuition for the 2021-22 academic year for Canadian students will be $9,440 and for international students will be $19,040. The operating budget includes a $886,000 deficit.
The full budget document is available at mta.ca/financial (Financial Reports).
Funding for all types of student aid increased by $756,000 to offer nearly $5.6 million annually in scholarships, bursaries, and awards to new and returning students. This is a 14 per cent increase in funding. Additional funding has also been allocated for new academic positions and key student services areas including international recruitment, sexual violence response and prevention, and diversity, equity, and inclusion on campus.
“Universities and organizations globally faced immense challenges over the past year with the pandemic, and Mount Allison is no different,” says Mount Allison University Vice-President, Finance and Administration Robert Inglis. “I’m pleased that the campus community was able to welcome the majority of our students back to campus for a safe learning experience both in-person and online and that we can continue to support them through increased financial aid opportunities and investments in other key areas.”
Mount Allison plans to return to more normal campus operations for the 2021-22 academic year, including a higher percentage of classes and services with in-person elements, following all Public Health protocols. The University will continue to offer a hybrid of both online and in-person classes.
The University endowment’s spending allocation grew to $8.8 million, allowing for additional spending in 2021-22 to support financial aid and academic programming.
Mount Allison is developing a three-year roadmap to chart a path for strategic initiatives. These include new academic programs and differentiated degree options, enhancing students’ experience, and upgrading campus infrastructure. In 2020, Mount Allison announced nearly 20 new degree, program, or certificate options for students, with many already available for 2021. The University is also in the planning stage for a major fund raising campaign designed to support these priorities.
Mount Allison’s fiscal year runs from May 1 – April 30.