It's going to cost more to get educated at the College of New Caledonia next school year.
The college board approved a two per cent tuition hike on Friday, which is expected to raise an estimated $100,000 for the college, already facing a projected $1 million budget deficit in 2013-14.
It will be the second straight year tuition costs have jumped two per cent. As a result, CNC students will be paying about $5 more per course, which works out to about $50 more per year in tuition for full-time students.
It will help, but we still have some work to do to submit a balanced budget, said CNC president John Bowman, who is trying to find other ways to deal with rising costs and deceased provincial government funding for advanced education.
The college is required to pass a balanced budget and details of its spending plan will be revealed following the board meeting, April 26. CNC will consider such cost-cutting measures as reallocation of unspent budgets, inclusion of deferred and other revenue sources, early-retirement incentives, voluntary severance packages, reduced workloads, and closure of undersubscribed programs.
The college submitted a $48 million balanced operating budget for the current school year after dealing with a $2.3-million projected budget shortfall.