Education in Crisis
On February 1 2021, Laurentian University (Sudbury, Ontario) declared insolvency in accordance with the 'Companies Creditors Arrangement Act' or CCAA. This announcement came out of the blue to students and faculty in the wake of mid-term examinations and the annual February reading week. In essence, this declaration of insolvency came about because of roughly two hundred million dollars in unpayable debt on behalf of the university - something it has lamented for the past several months.
In the wake of this declaration and the subsequent CCAA process, Laurentian has discharged nearly one third (1/3) of its faculty, including professors, and has cut 69 of its original 170 programs to date. This is not to mention that there were a number of graduate programs that were disrupted, as well as the premature ending of contracts with the federated universities (three small universities under the umbrella of Laurentian that made up a substantial portion of their programs and faculty).
What Does This Mean for Students?
After failed negotiations with the provincial and federal governments to acquire loans and subsidies to help lessen the impact of the CCAA process on Laurentian's students, one thing has been made abundantly clear: the student body at Laurentian is not a priority whatsoever. Thousands of students have already had their programs derailed or altered, and their quality of education made much lower - without a reduction in tuition costs at that. While the top faculty at the university enjoy generous salaries and bonuses, the students that make their very livelihoods possible are being told to kick rocks. International students, no plans. Domestic students, no plans. Graduate students, no plans. The disregard for student wellbeing throughout this insolvency process is moronic and downright disrespectful. It is safe to say, now that the first of three phases in the CCAA process is complete, Laurentian students (of which there are nearly 9000) had ought to leave and leave fast. The quality of your education is going to plummet, your course and program selection will be severely limited, and funding for high requirement programs will most likely evaporate.
With the situation at Laurentian University worsening, it is important to reflect upon what caused this in the first place: financial recklessness, greed, and elitism. The insolvency crisis at Laurentian should have never happened, but now that it has, it is disproportionately affecting students and staff who had nothing to do with Laurentian's financial woes. Those at the top, the academic senate and chancellors, including dean Robert Haché, and former dean Dominic Giroux, get to walk away without so much as a scratch. All those responsible for this crisis should be held responsible to the fullest extent permissible.
For more information on the crisis at Laurentian, visit the links below. Sign petitions should you see them, and support the causes of Laurentian staff and students trying to make a difference.
Sincerely,
A Laurentian University Student
Search the list of employees from Laurentian University of Sudbury that appeared on Ontario's sunshine list.
The pace of change at Laurentian University, which is in the midst of insolvency negotiations, is speeding up as termination notices for fac
The lawyer for the University of Sudbury argued Friday that it would be better for Laurentian University to go bankrupt than to allow it to
As widely reported, on February 1, 2021 Laurentian University obtained creditor protection under the Companies' Creditors Arrangement Act (C
