U of T budget makes students a priority amid shifting post-secondary landscape
The University of Toronto’s 2026-2027 budget takes steps to manage costs, boost student financial supports and make strategic, long-term investments in teaching and research – while the university looks ahead to the positive impact of Ontario’s plans to strengthen the post-secondary sector.
U of T’s 2026-27 balanced budget, approved by Governing Council on March 26, outlines the university’s plans for $3.66 billion in spending – a modest increase of 1.1 per cent over the prior fiscal year.
Developed before the province’s $6.4-billion investment in universities and colleges was announced Feb. 12, the budget includes $408 million for student support programs, nearly $21 million to fund 100 new two-year postdoctoral fellowships and an ongoing $40,000 base funding commitment for doctoral students. That’s in addition to investments in student services, housing and experiential learning.
Elsewhere, $15 million will be allocated to digital strategies, including responsible AI adoption across the university.
“Investing in the continued success of our students is at the forefront of our plans for the upcoming academic year and beyond,” said Trevor Young, U of T’s vice-president and provost. “From expanding financial aid to enhancing digital capabilities, we are investing where it matters most while continuing to steward our resources responsibly.”
Student access and affordability
The 2026-2027 budget includes a three-per-cent increase to U of T Advanced Planning for Students (UTAPS) – the university’s largest needs-based financial support program – in recognition of the cost-of-living challenges facing students. That brings the value of UTAPS to about $42 million, which is further topped up by about $2.5 million in funding from endowments.
In the coming years, U of T also plans to further bolster financial aid offerings to uphold its longstanding Policy on Student Financial Support, which ensures that no Canadian or permanent resident offered admission to an undergraduate program at U of T “should be unable to enter or complete the program due to lack of financial means.”
In all, the university continues to invest the equivalent of about $4,000 per student in financial assistance each year – nearly 70 per cent more per student than most other Ontario universities. This includes a projected $71 million next year that’s sourced from the payout on U of T’s endowment.
(Story by Rahul Kalvapalle, photo Matt Volpe)
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