Administration Responds to Tuition Hikes Imposed on Three JMSB Programs
CASA Not Taking a Stance on the Tuition Increase
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Hikes will be imposed upon three programs by fall 2021 in the Goodman Institute of Investment Management, which will impact international students the most, jumping from the current price of $18,000 to $29,000 by fall 2021.
The three programs within the GIIM include the diploma and masters program in investment and the masters of business administration in investment management.
The hikes are intended to further support the classes, increased cost of travel between Montreal and Toronto—where these classes are both taught—and to fund scholarships.
John Molson School of Business Dean and Professor of Business Technology Management Anne-Marie Croteau presented the motion for a hike in these JMSB programs to the Board of Governors on March 13, where it was approved with many in favour.
The imposed hikes will commence this fall and are projected to rise for the next three years. Croteau said there are currently no plans to raise tuition in other privatized programs.
“JMSB presented compelling arguments as to why the fees for the Goodman programs need to keep up with rising costs for the programs,” said Concordia President Alan Shepard, who voted in favour of the hikes.
“These programs are private, meaning they receive no government funding, so they have to be entirely self-financing,” Shepard told The Link. “In spite of the JMSB’s efforts to control costs, the school was at risk of running a deficit in the coming year.”
Quebec and out of province students tuition will rise from $18,000 to $22,000 per year. This will increase for the next two years, to $23,000 in fall 2020 and $24,000 in fall 2021.
International students will be impacted the most by an increase from $18,000 to $27,000 per year. The hikes will continue for the next two years to $28,000 in fall 2020 and rise to $29,000 by fall 2021.
Karina Bosca president of Commerce and Administration Students’ Association—the undergraduate student association at JMSB—told The Link in an email that “CASA is not taking a stance regarding the tuition hikes.”
Croteau said the tuition hikes will allow JMSB to improve the standard of service that students expect and deserve.
Patrick Lejtenyi advisor of public affairs at Concordia said creating scholarships depends on enrolment, as the programs within the Goodman Institute of Investment Management are privatized programs with all of the funding coming from tuition.
“Because the increase is being grandfathered in, we will be able to offer at least one full-tuition scholarship in the first year, with the number increasing every year to reach 10 or 15 by the time all three cohorts are at the adjusted tuition level,” said Lejtenyi.
He said that no curriculum changes are planned at this time.
“The improvements to the program will be increased services available to students in the form of language training and career development training,” said Lejtenyi.“CASA is not taking a stance regarding the tuition hikes.”
— Karina Bosca
He said this will help international students to advance chances of employment in Canada.
However, Lejtenyi said, “We are in the process of determining the specifics of the additional support initiatives.”
As the program is both offered in Toronto and Montreal, professors are required to travel every other week to teach students in Toronto. The hikes will cover the said increased cost of travel, Croteau told Board members on March 13.
“Hiring a professor residing in Toronto would be an additional cost, not a cost savings,” said Lejtenyi. “The format of the program has students in Montreal and Toronto sharing the same class experience, with one professor teaching both groups simultaneously, with the two classrooms linked via video conference.”
He said the professors teach in Montreal one week and Toronto the next to ensure the entire cohort has the same experience.
