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The agreement is subject to approval by the university's governing council.
However, starting with the class of 2014, the admission process consists of the Secondary School Admission Test (SSAT), and for the top 170 - 190 applicants, a second exam (focused on Math and English) and an interview with multiple staff members and UTS alumni (using an MMI format).
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However, in 2014, it was announced by the chair of the UTS board of directors that the University of Toronto and UTS were negotiating to maintain an affiliation between the two institutions and keep the school at its present location but redevelop the site so that it could fit meet the needs of both the university and the school.
In October 2015, the University of Toronto and UTS announced a 50-year agreement that would renew the school's official affiliation with the university, allow UTS to remain on its Bloor Street campus, redevelop 70,000 square feet of its space as well as build a 70,000 square feet addition.
The University of Toronto informed UTS in 2011 that it was rejecting its proposal for a million refurbishment of its facilities and that the university intends to reclaim the property at 371 Bloor Street West for its own use.
In 2004, UTS became an ancillary unit of the University of Toronto separate from the Ontario Institute for Studies in Education.
Prior to the 1960s, the Ontario Ministry of Education required seniors to complete a number of matriculation exams in order to graduate.
The student who scored highest in his or her exams province-wide would be awarded the Prince of Wales Scholarship; during the matriculation era, UTS students won thirteen Prince of Wales Scholarships.
Although matriculation exams would eventually be abolished in the 1960s, UTS students had been calling for change since the late 1930s in the form of valedictory addresses and protests.
Addresses in 19 targeted the tendency for matriculations to reduce "a tangible desire for knowledge", producing instead "a mind that cannot think for itself". At the turn of the decade, UTS developed a "New Program", which focused on completing subjects ("units") for graduation instead of matriculations.
Future NHL defenceman Dunc Munro played for this team.