The Ford government just announced that it plans to cut tuition fees in the province by 10 per cent as early as the coming school year.

Ford says the government is restructuring the current framework to offer students cheaper tuition. University students can expect cuts up to $660 per year, and college students can expect about $340.

Under this new framework, students can expect reduced rates to kick in this coming September and to stay frozen into the 2020-21 school year, reports the Globe & Mail.

Students are feeling cautious about the new changes. One-third of the revenue made by universities comes from tuition, and a 10 per cent cut will result in a $300 million shortfall coming out of the system. Post-secondary institutions will be looking to make that money up elsewhere.

The reduced rates will only apply to Canadian students, which does not bode well for international students. Colleges can only increase international student tuition by 20 per cent per year, while universities have no caps. But while international students already pay four times that of domestic students, colleges and universities may look to them to make up their budget shortfalls.

Students are also concerned about the implications the cuts may have for OSAP recipients. The previous Liberal government made changes to the program, resulting in more people having access to student loans. These new changes may outright disqualify some students, or result in stricter requirements for those applying for support.

The Ontario chapter of the Canadian Federation of Students says students should be skeptical. “Students should remain cautious of reports of a 10-per-cent cut to tuition fees,” they tweeted. “We are concerned about the intentions of this announcement and whether it will make PSE more affordable.”

The province is expected to announce more details on the tuition cuts and the restructuring in the next few days.