The 2015-16 federal budget promises to deliver a number of changes that will affect Canadian students, including those at the University of Saskatchewan.

Federal Finance Minister Joe Oliver tabled the 2015 budget for the Government of Canada on April 21. This is the first balanced budget since 2007 and includes a $1.4 billion surplus. 

With a federal election expected for the fall, this is the last budget to be released by the sitting Conservative Party cabinet. Under the government’s Economic Action Plan, the deficit has been reduced from $55.6 billion at the height of the 2008 global recession. 

Research at the U of S will see an increase in support with $1.33 billion having been pledged over six years to the Canadian Foundation for Innovation, beginning in 2017. The foundation provides funding for a number of projects in Canada, including over 260 projects at the U of S as of January 2015, such as the Aboriginal Health Research and Training Facility and the Synchrotron.

Response from Gordon Barnhart, U of S interim president and vice-chancellor, has been generally positive, particularly in regards to research funding.

“A lot of new money [was] added to research. This is the single largest investment [and] is really good news,” said Barnhart. “More research money means expanded research programs, which helps grad students … it’s also there for undergrads as well, which makes our campus a better environment for teaching.”

Barnhart also acknowledges that the federal government can only do so much.

“It’s up to us to submit [funding] applications, to earn our right to spend a certain amount of money,” he said.

The Canadian Student Loans and Grants program will undergo major changes, including the removal of the assessment of in-study income from the evaluation process. Currently, student loan funding is reduced for every $100 earned per week by the student in external jobs. Now, students can work and gain valuable employment experience and still receive full financial assistance, which will help an additional 87,000 students per year.

The expectation of parental contribution has also been reduced. Starting in 2016, the government will contribute $119 million over four years to the Canadian Student Loan Program. This will increase support for approximately 92,000 students.

Other changes include Eligibility for Student Grants, which has been extended to short programs. The minimum length requirements for programs has been reduced by almost 50 per cent, dropping from 60 weeks to 34 weeks. This will increase student support by $184 million over five years, starting in 2016.

While these changes do provide some benefits, Jack Saddleback, president of the U of S Students’ Union, points out that no system is perfect.

“On one hand, we’re seeing the education system become more accessible to incoming students, while on the other hand, the federal government needs to address student debt better,” Saddleback said.

Aboriginal students will also benefit from this year’s budget, with $12 million pledged to Indspire, an Indigenous-led registered charity that aims to further the education of First Nations, Inuit and Métis students within Canada. The money will go towards scholarships and bursaries to help students fund their post-secondary education.

Despite his acknowledgement of the budget’s downsides, Saddleback also recognizes its positive implications.

“Twelve million in support for scholarships and bursaries is fantastic in that it addresses the societal disparities that create barriers for Aboriginal students in their access to education,” Saddleback said.

Certain aspects of the budget will continue to affect students even after they leave university, as the government has also promised to assist with the job hunt. It will provide a one-time investment of $65 million to business and industry associations to support them in working with post secondary institutions to align course material with the needs of employers.

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Images: Jeremy Britz/Graphics Editor