A 2019 Article published in The Varsity, University of Toronto’s student newspaper, highlights the university’s increased financial dependence on international students. The article notes that ten years ago, U of T’s international student population was about 10 per cent of total enrolment, and as of 2017 it accounted for 22 percent. The money that comes from international students is more than provincial grants and domestic tuition provide respectively.
Further, all signs point to increased dependence on international students and plans to accelerate their enrolment. An article in the same publication from March 2020 breaking down the U of T 2020-2021 budget noted that while domestic fees were cut by 10% in 2019 and frozen until the end of the academic year in 2022, international fees are unaffected by the cuts, and will rise by an average of 5.3 per cent.
The article notes that up to six per cent of each division’s international tuition will go to a scholarship fund for top international students. These scholarships will be awarded based on a variety of factors, including merit and need, and the amount invested is expected to grow from $14.7 million in 2020–2021 to $75.8 million in 2024–2025. Divisions still aim to increase the amount of international students, and to diversify that population to be more reflective of U of T’s global partnerships. The university expects the proportion of international students to rise to 28 per cent in the 2020-2021 academic year.