Tuition at many public colleges and universities is skyrocketing, thanks to state budget deficits that have choked off funding for higher education.
The University of California, for instance, estimates a 30% increase in the 2010-2011 year. “California’s $20 billion deficit will make it hard for the [state's] legislature to provide funding to the schools,” said Patrick Lenz, UC Berkeley’s budget administrator.
Next year’s tuition numbers aren’t final, since many states are still hashing out their budgets. But one thing is certain: Rates are going up, and the schools that will be hit the hardest are in the states that have seen the worst of the economic downturn.
For example, the Universities of Nevada, Florida, and Washington, each estimate that their tuitions will jump 10% to 15% next year.
University of Washington’s Associate Vice Provost, Gary Quarfoth said the school expects to raise rates by 14% to help make up for a $21 million cut in funding from Washington state.
The UC system has endured massive cuts in recent years. The state of California slashed $637 million from the UC school system in 2009-2010, and another $814 million in the 2008-2009 school year.
The school doesn’t yet know how much funding it will receive for next year, but it estimates that even with the 30% tuition hike it will still be in the red by $237 million, according to UC spokesman Steve Montiel.
FULL STORY: http://money.cnn.com/2010/02/24/news/economy/public_tuition_soars/index.htm
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