A Lost Decade in Higher Education Funding - By Michael Mitchell, Michael Leachman, and Kathleen Masterson, Center on Budget and Policy Priorities

A decade since the Great Recession hit, state spending on public colleges and universities remains well below historic levels, despite recent increases. Overall state funding for public two- and four year colleges in the 2017 school year (that is, the school year ending in 2017) was nearly $9 billion below its 2008 level, after adjusting for inflation. (See Figure 1.) The funding decline has contributed to higher tuition and reduced quality on campuses as colleges have had to balance budgets by reducing faculty, limiting course offerings, and in some cases closing campuses. At a time when the benefit of a college education has never been greater, state policymakers have made going to college less affordable and less accessible to the students most in need. As states have slashed higher education funding, the price of attending public colleges has risen significantly faster than what families can afford. https://www.cbpp.org/sites/default/files/atoms/files/2017_higher_ed_8-22-17_final.pdf