Diminished state budgets, eroded by the most recent recession, have walloped the finances of public colleges and universities, which educate more than 70 percent of the nation’s undergraduate students. Consequences range from rising tuition and student loan debt to furloughed faculty and closed campuses that curtail class offerings and deflate completion rates.
Two new reports, one from the Center on Budget and Policy Priorities (CBPP) and the other from the association of State Higher Education Executive Officers (SHEEO), warn that the decline of state investment in public higher education will make it increasingly harder for students to access and complete higher education, threatening the future competitiveness of the American workforce and the country’s economic promise.