Bailout for Acadia

Acadia University needed a $10.5 bailout from the provincial taxpayers.

Newly-released numbers in the government’s financial report show it gave Acadia a $3.5 million increase in its grant last year and foregave a $7 million loan.

New Acadia president Peter Ricketts said the school has been receiving the additional $3.5 million for a number of years because it found itself in a dire financial situation including significant budget cuts while enrollment was declining.