How smart of them…
Less than two years ago, students from the universities in downtown Montreal were out on the streets in the masses, protesting about how terrible the planned tuition increases were. They were so keen on having the tuition remain unchanged, that on election day, they cast their ballets in favour of the Parti Quebecois. When the PQ took centre stage, they stayed true to their promise and last spring, the tuition increases were called off. Students were happy and thought that everything worked out in their favour, which at the time appeared to be the case. However, the government had one trick up its sleeve and students are now in for some big news as it is being implemented for this years tax season.
The government has decided to compensate for the cancelled tuition increase through a system that is extremely recognized here in Quebec; taxes. They’ve chosen to decrease the student tax credits for tuition by more than half (20% to 8%). This sneaky, yet intelligent move was for the benefit of Quebec universities who have been suffering from insufficient revenues. For many, this may come as a surprise, however, in order for the education system to truly remain competitive and stay afloat, tuition price increases are as inevitable and necessary as are the price increases in food, both caused by inflation. The ripple effect of cost increases can be seen in all industries, organizations and educational institutions.
Though the government had initially chosen to satisfy the student demands, they’ve now found a way to collect through a different approach; giving back less. The capital needed to keep the wheel turning is an inevitable necessity, and as such, it was merely a matter of time before the government re putting less money in our pockets rather than taking out more. The additional funds the government will retain through these cuts will help the university institutions, whom have been experiencing low revenues and s great news for the universities and for future students, as it helps secure s just hope the extra cash goes where it is truly needed and clearly intended to go.
As a student at Concordia University’s John Molson School of Business, I believe that other students should truly grasp the concept of inflation, and the idea that an education is a long-term investment as are RRSPs. Investing the capital now to secure a comfortable lifestyle tomorrow, is something students should come to terms with and embrace. I myself have.
Please share your thoughts on or questions about the matter below…
Anthony-James Pousseur is an accounting student at Concordia’s John Molson School of business.