The budget cuts affecting higher education institutions might be alleviated by state investment, according to a report by The Virginia Higher Education Council Thursday at The Virginia Summit on Economic Competitiveness and Higher Education.
The report was based on the study by The Weldon Cooper Center for Public Service at the University of Virginia at the Greater Richmond Convention Center.
Gubernatorial candidates Creigh Deeds and Bob McDonnell along with Gov. Tim Kaine commented on the council’s report. VCU President Michael Rao said VCU talked with both candidates.
“Both appear to be very committed to higher education,” Rao said. “There’s a lot of talk about public education and what it does.”
VCU’s budget was recently affected by withdrawals of $25.2 million in state funding, which was announced by Kaine in September 2009.
The cuts will not be taken “across the board,” said John Bennett, the senior vice president for finance and administration at VCU.
“The instructional portion of the budget is about half of the total,” Bennett said. “That’s where the state cuts are coming and that’s where the reductions are but of course, that’s the core part of the institution.”
Rao said the budget cuts have been a “tremendous burden” for the university but those cuts may be better than making equal cuts for every department and program.
The study states, “Virginia receives $1.39 in state tax revenue for every dollar it invests in public higher education.” It also states “$2.5 billion in annual tax revenues are generated for the state” and “144,550 jobs are created by higher education operations.”
These benefits were taken into consideration when Deeds and McDonnell proposed their plans for higher education. Deeds’ plan follows the council’s, which calls for adding 70,000 degrees in the next 10 years while McDonnell plans to add 100,000 degrees in the next 15 years.
“We’re working with the current governor because he has another few months,” Rao said. “We’re working with the legislators because we know that many of them will be here and then, once the governor is elected, we’ll also work with that new person.”
Deeds’ plan for higher education:
Create an additional 70,000 degrees over the next10 years for two- and four-year programs.
Make education and job training more affordable.
Guarantee loans for Virginia community college students.
Increase need-based tuition assistance by at least $40 million.
Offer loan forgiveness for teachers who work in high-need areas or in science, technology, engineering, and mathematics subjects.
Establish a “Virginia Promise Fund” to curb tuition increases during tough economic times.
Add $10 million in job training grants associated with the Governor’s Opportunity Fund.
Make college and job training more accessible.
Expand career-training programs at community colleges.
Expand capacity at four-year colleges, with a special emphasis on increasing science, technology, engineering, and mathematics degrees.
Pursue public-private partnerships that connect job training at our colleges, universities, and high schools with the local business needs.
Institute a biannual state review to ensure that Virginia is targeting the programs and jobs in high demand.
Increase the number of high school seniors graduating with either a semester’s worth of college credit or 18 weeks of job training.
Plan provided by www.deedsforvirginia.com
McDonnell’s plan for higher education:
Add 100,000 additional associate’s and bachelor’s degrees over the next 15 years.
Restructuring the system for affordability and employability.
Targeting science, technology, engineering, mathematics and other high-income, high-demand sectors.
Comprehensive workforce training/re-training led by our community colleges.
Plan provided www.bobmcdonnell.com