Unprecedented Era in Higher Education Financial Stability
July 12th, 2010I recently read an article related to the “unprecedented” budget cuts facing the LSU System. System President John Lombardi warned the Chancellors of the various campuses that the system is looking at a 23.28 percent cut across the board unless the projected state budget for 2011-2012 changes. A primary reason for the heightened focus is the expiration of the Stimulus Act funding for higher education that provided nearly $300 million to the state colleges and universities in Louisiana alone. According to the System’s press release, the System’s colleges and universities had already absorbed $150 million in cuts over the previous two years. In the past, some of those cuts have been absorbed by tuition increases, but proposed state tuition increases must be approved by Louisiana’s legislature – a prospect that becomes unpredictable due to the current political environment. Louisiana’s situation is not unique; their press release happened to be readily at hand, but there are equally challenging circumstances being dealt with by many state legislatures throughout America.
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