Local housing and economy at risk as Georgian College braces for sharp drop in foreign students

Decline in foreign students at Georgian College will have far-reaching local impacts.

Georgian College is expecting a 45 per cent decline in foreign student enrolment next year, a shift that could send ripples through Barrie’s economy, job market, and housing sector. The drop—amounting to about 3,200 fewer students—comes with a projected $45 million deficit for the 2025-26 academic year and the loss of 229 staff positions.

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For businesses that depend on Georgian graduates, the effects are already a concern.

“It definitely will have an impact on us,” said Stephen Loftus of Innovation Automation, a company that has relied on Georgian-trained workers for 30 years.

As industries grow, so does demand for skilled workers, Loftus explained. With fewer students in Georgian’s pipeline, the hiring pool is set to shrink.

“It will be harder to find people to fill those roles, which will limit our growth and our ability to hire,” he said.

The loss of thousands of students also threatens the local rental market. Many rely on foreign students as tenants, especially near the college.

“A lot of people in that Georgian College neighborhood rely on these students to rent their apartments, their basement apartments,” said real estate broker Peggy Hill. “People have converted their homes just for that.”

With fewer renters, Hill predicts a shift in prices.

“If you have a lot of supply and demand decreases, you’re going to see lower prices,” she said.

Current students like Kory Hook, in her final year at Georgian, are also feeling the weight of the changes.

“I would not be here without it,” she said. “Georgian shows you the hands-on aspect in such depth compared to other schools.”

The financial pressure on colleges is not over. Georgian anticipates another shortfall of $15 to $20 million in 2026-27 and has not ruled out further cuts.