Students Respond to 2022-23 Budget
For Immediate Release
Halifax, NS - Today, the Government of Nova Scotia released the 2022-23 Budget, which saw significant investments in priority areas including healthcare and housing. Though pleased to see expansion of nursing programs and investments in accessibility, Students Nova Scotia is concerned to see a continued lack of direct student support, particularly in expanding employment programs and addressing student affordability.
“As highlighted in today’s Address, this is a pivotal moment for our province as we rebuild and strengthen our economy in the wake of the pandemic,” said Ben Fairhurst, Chair of Students Nova Scotia. “Given that postsecondary education is a key driver of both population and economic growth, students and graduates have a critical part to play. However, these contributions can only be realized for those with the means to access postsecondary education in the first place, which is especially concerning as the affordability and accessibility of education has decreased over the past two years.”
Despite the fact that any level of postsecondary education drastically increases employment and earnings potential, only an estimated 53% of Nova Scotia high school graduates pursue university, college or skilled trades studies after graduation. Though a number of factors contribute to this low participation rate, upfront financial barriers are consistently cited as the largest impediment to access.
“Even prior to the pandemic, 17% of Student Financial Assistance borrowers faced unmet need, meaning their level of assessed need surpassed program maximums,” said Kyle Cook, Vice Chair of Students Nova Scotia. “Since maximums were last adjusted in 2017, educational and living costs have increased exponentially. Coupled with lost employment earnings over the course of the pandemic, many students found themselves using all their savings or taking on additional debt just to return to studies last fall.”
Students Nova Scotia was pleased to see the recent investment in students through a one-time COVID-19 Bursary for all Student Assistance borrowers. However, for every year that maximums are not modernized, the affordability barriers associated with postsecondary participation only continue to grow. Sustainable, long-term investments in student financial aid are critical in addressing the growing gap between the financial resources available to students and the reality of educational and housing costs in Nova Scotia.
Students and graduates across all fields of study also play a pivotal role in strengthening the province’s workforce - in particular, paid work experience in-study has significant implications for labor force attachment, while programs such as Graduate to Opportunity lessen the employment challenges students face upon graduation. However, although demand for CO-OP and Graduate to Opportunity has sharply increased in recent years, today’s budget saw no additional funding for either program.
Though disappointed to see the lack of direct support for students at this critical juncture, Students Nova Scotia looks forward to continuing to work with government in ensuring that all students have the opportunity and means to contribute to our province, foster innovation and support the creation of solutions for a stronger Nova Scotia.