In what it calls the U.S. recession’s other victim, a recent Reuters article reported funding for public universities has reached its lowest point in the past 25 years. At the same time, tuition and fees at public four-year universities have skyrocketed by 70 percent in the last 10 years.
The fallout at many public schools includes larger classes taught by part-time faculty, reducing or completely eliminating programs, hiring freezes and even switching to dual-flush toilets to save water.
To contend with ever-increasing tuition costs, students and their families are taking on more debt. Students today are graduating with an average debt of nearly $30,000 according to FinAid.org.
In addition to the extra cost, another hurdle is increased competition for admission. With a big gap in the coffers to fill, recruiting out-of-state and overseas students is all the more attractive.
The takeaway the author found: “It’s just a sign of the times, say those who have remained in public education.”
We’re interested to learn your institutions’ strategies for responding to funding shortfalls.