Assessment:
Chapter 4

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Income & Investments

Executive Summary

In 1976, Canada became a signatory to the United Nations International Covenant on Economic, Social, and Cultural rights, committing to the progressive introduction of free higher education. While no action appears to have been taken towards this goal, education should be made as accessible as possible, shifting away from tuition fees as a source of income to more sustainable sources. National tuition costs have however increased at four times the average rate of inflation since 1990. With the Canadian government not yet ready to take steps towards lowering the cost of a university education, the reality of the current economic system is such that universities must find adequate sources of income in order to cover the expenses of their operations. The ways in which a university generates revenue have a dramatic effect on both its accessibility and its external impact.

Tuition fees constitute approximately 16% of Concordia's income. While per-credit tuition has not increased in a decade for Quebec residents, ancillary fees have, leading to higher total tuition for residents, and significantly higher tuition costs for out-of-province and international students not protected by the tuition freeze. In 2004 the Quebec government cut $103 million in spending to the loans and bursaries program, and various campaigns were organized by students with the goal of compelling the government to return the money to the bursary program, with some success.

Investments constitute another source of income for universities. Investment can constitute a substantial part of an institution's environmental and social footprint, and yet such upstream or downstream impacts are difficult to quantify and even more challenging to evaluate within the context of a social and environmental framework. An investment is a vote of confidence in a particular industry, individual or institution, and thus a tacit sign of approval of the activities that entity undertakes. As a large investor, Concordia has power to change the way business is done.

Key Directions

• Continue to lobby provincial and federal governments for increased university funding

• Begin a process of researching and discussing how socially responsible investing might be integrated over time by the Concordia Student Union, Concordia Foundation, and Pension Plan.