In case you missed it earlier today, be sure to check out this new and sobering release from the Justice Center on the sorry state of North Carolina’s investment in higher education:
North Carolina’s spending on higher education cut deeply since 2008
Shortchanging public universities and colleges reduces access to higher education, hurts economy
RALEIGH (May 13, 2015) — Even as most states have begun to restore funding for higher education that was cut during the recession, North Carolina has continued to cut funding for public universities, according to a new report from the Center on Budget and Policy Priorities. As a result, tuitions have risen dramatically and the quality of education here has suffered, which will make it harder for the state to attract businesses that rely on a well-educated workforce.
“Smart investments in public colleges and universities will help to strengthen North Carolina’s economy,” said Cedric Johnson of the Budget & Tax Center, a project of the NC Justice Center. “Communities with highly educated residents attract employers who pay competitive wages. Their employees then spend money in their community, boosting the economy of the entire area. That’s what North Carolina needs as our economy continues to recover from the damaging Great Recession.”
Nationwide, states are spending 20 percent less per student on higher education than they did in 2008, after adjusting for inflation. With such deep cuts in higher education investment, colleges and universities have had to raise tuition, cut spending, or both. As a result, tuition at four-year public colleges has grown nationally by 29 percent since the 2007-08 school year.
For North Carolina, costly tax cuts in recent years have hindered the state’s ability to invest in what works, such as its well-regarded public university system. State funding for higher education has been cut by more than 20 percent since 2008 when adjusted for inflation, according to the new report. Meanwhile, the average tuition at a public, four-year college increased by 36 percent during this period. Read More