College education has numerous funders. Both the state and federal governments are providing support along with the higher education institutions. Then of course, there’s the money paid by families of the students.
Improving accessibility to these funding requires more support from multiple sources.
It All Starts at State Level
To initiate at local level, there is an increase in funding of the state that will make college a lot more affordable. Not only that, around 70% of the undergraduates are attending public institutions and historically, states have been the main source of funding both for 2 and 4 year public institutions. On the other hand, states began reducing their support for the past several years. Because of this, the burden is shouldered by the students as well as their families.
On the other hand, given the budgetary pressure leading from underfunded pensions, K-12 and Medicaid, it is hard among students to expect having increased support from their respective states. On top of that, recent tax changes that are limiting federal deductions for state taxes increases pressure in keeping the state’s income along with property taxes rates low. This does nothing but to further hinder state funding.
Real Solution is Hard to Come By
This is the exact reason why state’s lawmakers and politicians need to come up with a solution that will really help families and students.