Fallout from the federal government's cap on international students is projected to cost Georgian College a financial hit of about $45 million in the coming school year.
As a result of several policy changes announced by Immigration, Refugees and Citizenship Canada (IRCC) in 2024, coupled with market conditions resulting from those changes, college officials say international student enrolment declined by nearly 30 per cent between the fall 2024 and fall of 2023.
It's expected to decrease by another 24 per cent for 2025 and into 2026.
For Georgian College, this equals an anticipated reduction in student enrolment of about 2,500 students in the next enrolment cycle for 2025-26, according to president and chief executive officer Kevin Weaver.
“While it’s difficult to predict the long-term effect, given there are so many variables, in the short term we’re facing a projected budget gap of $45 million for 2025-26,” he said.
Weaver says this is largely due to an estimated 15 per cent drop in revenue due to IRCC policy changes announced Sept. 18.
“We are implementing measures to help close the gap and support the college’s long-term financial stability, including identifying budget efficiencies and aligning resources with areas of greatest impact,” he explained.
Despite these challenges, Weaver said Georgian remains committed to adapting to the evolving landscape with “resilience and innovation,” ensuring both their domestic and international students continue to receive an “unrivalled student experience and education.”
Though the school hasn't cancelled any of its programs, it has suspended intakes and combined some class sections, Weaver said.
“As part of our normal enrolment management processes, program intake suspensions are possible where there are significant declines in enrolment,” he said, adding that, in the 2024-25 academic year, they implemented 20 intake suspensions.
“We remain committed to delivering programs that meet labour-market demands and provide students with the skills required in today’s economy,” Weaver added.
As the school’s leader, Weaver says he's “gravely concerned these reforms will have a lasting and detrimental influence on the stability and sustainability of the communities" the school serves, and on its effectiveness as a college.
“While we understand the federal government’s intent of reducing temporary migrant flows to Canada, putting at risk the local talent pipelines essential for regional development isn’t the way,” he said.
So far, there has been little movement by governments to attempt to review concerns by the college.
“While we’ve encouraged the federal government to consult with the provinces, industry and post-secondary institutions to ensure local labour-market needs are fully considered within the scope of the post-graduation work permit program, unfortunately we haven’t seen any development to date regarding eligibility expansion,” Weaver said.
