Over the last few years, the state has cut more than 30 percent out of the funding provided for our colleges and universities. Because of those funding cuts, tuition rates are at all-time highs. This past week, the Majority Coalition Caucus rolled out our “10-3-50” plan that will increase funding for our higher education institutions by 10 percent (an additional $300 million). The plan will also reduce tuition rates by three percent and provide $50 million in competitive funding for colleges and universities.
We cannot continue to cut the funding for higher education every time we need to balance the state’s budget. If we do not lower the cost of higher education, our students will continue to incur debt at a record pace. This is not a fix-all plan, but it starts the conversation about what we need to provide a world-class education to every student, not just those willing to be saddled with debt.