Combined $95-million deficit for Fanshawe College over two years leads to ‘comprehensive review’

Fanshawe College’s main campus on Oxford Street East in London on Dec. 19, 2024. (Daryl Newcombe/CTV News London)

Projecting a combined $95-million deficit over the next two years, Fanshawe College says it is undergoing a “comprehensive enterprise-wide review.”

Citing the federal government’s cap on international student enrolment, President Peter Devlin said in a statement that to address the projected deficit, the school is, “Taking a thoughtful and proactive approach to ensure long-term sustainability.”

The statement went on to say that Fanshaw has engaged a third-party firm to conduct a comprehensive enterprise-wide review to assess program offerings, organizational structure, and leased space portfolio.

“While the full effects of these changes will become clearer in the months ahead, we remain committed to making informed, strategic decisions that protect the college’s future. We will host an employee town hall in late February to outline our stabilization plan and next steps,” read the statement.

In an email to CTV News, OPSEU Local 110 President Mark Feltham said, “We are very concerned about these projected deficits, and we will be working very hard, as always, to ensure that our members' rights are protected during this challenging period.”