June 14, 2013
Budget & Finance
MO: Governor calls on higher ed leaders to support his veto of tax cut legislation
This week Missouri Gov. Jay Nixon (D) urged the state's higher education leaders to support his veto of a bill that will cut taxes by an estimated $800 million. Nixon warned that the measure would leave a hole in the state budget that would adversely affect funding for state programs, including higher education. The Republican-led state legislature is expected to pursue a veto override vote this fall.
News-Leader (Date posted: June 11, 2013)
Student Success & Services
AR: Higher ed leaders unveil “Credit When It’s Due”
Arkansas higher education officials launched “Credit When It’s Due” on Wednesday, an initiative to encourage two-year colleges to award associate degrees to students who transfer from two- to four-year institutions of higher education and later meet the requirements for an associate degree. The program, which is being funded for its first two years by the Kresge Foundation, is one of 12 like-minded programs through an initiative run by the University of Illinois at Urbana-Champaign.
Arkansas News Bureau (Date posted: June 12, 2013)
NE: Regents approve tuition freeze
Last week the Nebraska Board of Regents approved an operating budget that will freeze tuition for the 2013-14 academic year, the first tuition freeze in two decades. The move was facilitated by a 4 percent state funding increase approved by state legislators and signed by Gov. Dave Heineman (R).
Omaha World-Herald (Date posted: June 8, 2013)
OR: Governor expected to sign bill extending in-state tuition to veterans
The Oregon Legislature passed a bill this week that would extend in-state tuition eligibility to veterans. To be eligible for the lower in-state rate, veterans will have to establish their physical presence in Oregon within a year of starting classes. The bill also waives tuition for children of Purple Heart recipients. If approved, Oregon would be the 22nd state with a veterans' tuition preferences. The measure is expected to be signed by Gov. John Kitzhaber (D).
The Statesman Journal (Date posted: June 10, 2013)
A Stronger Nation Through Higher Education (Report) (Press Release) (Related story)
This annual report outlines the latest national and state-level data on college degree attainment. According to the report, 38.7 percent of Americans held a two- or four-year college degree in 2011, up from 38.3 percent and 38.1 percent in 2010 and 2009, respectively. The Lumina Foundation referred to this progress as “far too modest” and outlined 10 short-term goals to boost educational attainment. Lumina’s goal is to have 60 percent of Americans with high-quality postsecondary credentials by 2025.
Is Starting College and Not Finishing Really That Bad? (Report) (Related story)
The Hamilton Project, Brookings Institution
This report by leading two leading economists reveals a strong return on investment—9.1 percent—for those with some college, but no degree. This exceeds average returns from the stock market and Treasury bills. Nevertheless, the returns are far below those from finishing a college degree. The report also discusses the latest data on the number of jobs that need to be created to return to pre-recession levels.
The Fiscal Survey of the States (Report) (Press Release) (Related story)
National Governors Association/National Association of State Budget Officers
This report outlines the fiscal picture for state governments, concluding that the outlook is improving nationwide but slow growth and increasing expenditures will likely continue to constrain state budgets. The authors contend that state leaders will be challenged to fund budget items cut during the recession while mitigating the effects sequestration-induced federal funding cuts. The report discusses dynamics related to state spending, budget gaps, revenues, Medicaid expenditures and other state financial issues.
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