University Of California Tuition Income Eclipses State Funding For First Time
Oh the times they are a-changin'...
For the first time in its history, the University of California system took in more money from tuition than it did in state funding, the Los Angeles Times reports.
The Times has more:
State funding for UC and the California State University was cut $650 million this year for each system. As a result, in-state UC undergrads will pay 18.3%, or nearly $1,900, more in tuition and fees than last year. Many will get financial aid, and students from families with annual incomes up to $120,000 may be eligible for reprieves on the latest increases.
UC leaders note that its tuition is on a par with other top public research schools. The University of Michigan at Ann Arbor will charge state residents about $14,000 this year; the University of Virginia, $11,600; and the University of Texas at Austin, $10,000. But UC student leaders say that living costs are much higher in California.
The system will take in a total of $2.9 billion in tuition this year (an increase from last year's $2.56 billion). State government will contribute $2.4 billion, which is reduced from last year's $2.9 billion.
The system has been working to attract more out-of-state students to bolster their tuition funding.
It remains to be seen what this means for higher education in the state of California. The UC system has historically been a paragon of public low-cost education, but it could change to look more like a private institution in the future.
Despite their monetary woes, the UC system recently announced significant pay raises for faculty.