Toronto Metropolitan University will receive increased funding as part of a historic $6.4 billion provincial investment in Ontario's post-secondary sector - the largest commitment in the province's history.
The announcement made on Feb. 12, 2026 reflects the province's commitment to strengthening Ontario's economic resilience by investing in universities that drive innovation across the province. The new funding model raises annual operating funding to $7 billion, a 30 per cent increase, and funds 70,000 seats in high-demand programs.
"We are incredibly grateful to the Ontario government and Minister Quinn for this transformational investment in post-secondary education," said Mohamed Lachemi, president and vice-chancellor of Toronto Metropolitan University. "This funding will ensure that our students are well prepared to take on the complex challenges of the future, while delivering lasting economic benefits for Ontario."
Supporting students and expanding access
The funding plan focuses on three principles:
- Preparing students for rewarding, in-demand careers that meet labour market needs
- Preserving Ontario students' ability to access high-quality post-secondary education, while supporting their ability to appropriately invest in their education and success
- Providing Ontario's post-secondary sector long-term sustainability
The province will also enhance the Student Access Guarantee, which provides additional financial support to low-income students when OSAP doesn't cover the full cost of tuition, books and mandatory fees.
Starting this fall, tuition in Ontario will be allowed to increase by up to 2 per cent annually for three years - one of the lowest rates in Canada. For university students, this works out to about 47 cents per day. The enhanced Student Access Guarantee will absorb this increase for students from lower-income families.
Changes to student financial aid
To keep OSAP sustainable for future students under the new model, students will receive a maximum of 25 per cent of their OSAP funding as grants (which don't need to be repaid) and at least 75 per cent as loans. This change, which will take effect in Fall 2026, brings Ontario in line with other provinces.
For more details, please read the provincial announcement.
