The province announced Friday it is providing $106.4 million to help colleges and universities address the financial impacts of COVID-19, but Laurentian University is not included.
Laurentian University, which declared its insolvency in February, is currently restructuring under the Companies’ Creditors Arrangement Act.
The impact of the pandemic is named in the court documents as one of the factors putting financial pressure on the institution.
However, Colleges and Universities Minister Ross Romano’s office says at this time, a one-time injection of funding through the COVID-19 Support Fund will not fix the significant long-term and systemic challenges faced by Laurentian.
Romano is monitoring the proceedings ensuring the continuity of learning for Laurentian’s students is protected.