The province is reviewing its funding model for 25 post-secondary institutions, including Northern Lights College.

The current model hasn’t been updated in over 20 years and has created constraints and inequities for some institutions, the province said in a release Thursday.

The new model will focus on fairly and impartially distributing provincial dollars, aligning funding with educational needs, providing affordable, high-quality education, and expanding student supports.

The review will focus on block funding to post-secondary institutions for general operations, representing around 75 per cent of provincial operating grants, according to the ministry.

The first phase of the review will begin with targeted engagement with key sector partners, student, labour and sector associations, and public post-secondary institutions, the province said.

The second phase will consider how to move forward with the findings to develop policy options and modernize the funding model.

The ministry of advanced education will also be partnering with Indigenous partners to develop a process for engaging with Indigenous peoples.

“Currently, block funding is based on the previous year’s grants and is not linked to specific programs or student seats. Targeted funding, which represents approximately 25 per cent of institutions’ operating grants for high-demand occupations such as health and technology, is not within the scope of this review,” said the province in a release.

Findings after stakeholders are consulted will be presented to government by summer 2023 and will be made public.