Yes, that is the PER (Positive Eligibility Review). I heard many of applicants from Ontario use that letter to reduce their tuitions. It of course depends on your university whether they accept this or not. There was a serious debate on this because some of applicants got rejected even after PER and university has to apply original tuition rate and students have hard time to pay back. You can definitely try.
If you have only one black page left, you better get a new passport. Do not send two passports to CIC, it creates the big problems because it makes them confused (actually one of my friend had problem for US because of sending two passports). As soon as you get your new passport, you have to send CIC with the request for updating passport. You can simply send them new passport saying that you got new. Once you have new passport, your old one is automatically cancelled. One person CAN'T hold two valid passports from the same country (this applies many countries, check with your country too). But remember, any valid visas on old passports are VALID as long as you carry both passports.
