Overall, the expenditure figures indicate continued severe restraint at Western. It is important to understand that the simulations in the Appendix are not in any way precise forecasts of future revenues and expenditures, much less commitments by the University with regard to future policies. Rather, they are examples of the kind of evolution we can expect in University finances, within which our restructuring options and other planning should be considered. We noted above that tuition fees have become the primary source of additional revenue for Western. We believe that accessibility for students in general, and for needy students in particular, will require that Western commit to the following principles.
Higher tuition demands high quality.
Western will be increasingly accountable for the quality of the student experience and the economic and cultural outcomes that our students experience after graduation. We believe students will pay more for a Western education if the quality of that education meets their expectations. We do future students no service if we lose the ability to deliver high-quality education through restricting tuition fee increases and cutting even more severely into operating budgets. Government support for loans must be reliable and effective. With the government grant falling in real terms, the government's commitment to accessibility must be realized through the student loan system.