Pursuing higher education is something that most young people dream about, but actually getting that college degree can be hard. Going to school is expensive which is why some students decide to opt for less costly community colleges and state universities.
Facing tight budgets, even that path may now be in jeopardy.
The University of California is facing an $800 million budget shortfall. In a press conference, University of California President Mark Yudof talked about his plan to address this budget crisis by increasing student fees, implementing furloughs for staff and faculty, and cutting programs on 10 campuses.
• A quarter of the $813 million gap will be filled in the form of a previously approved student fee increase.
• Another quarter will be gained through what Yudof termed a modified furlough plan. To be implemented Sept. 1, the furloughs will be administered systemwide, with some exceptions, and progressively scaled to ease the burden on those who earn less. This course was chosen after UC employees indicated a clear preference for furloughs rather than across-the-board pay cuts.
• Through the refinancing of debt and further administrative cost controls, the university will gain another $100 million offset against the $813 million shortfall.
• The remainder of the gap to be closed -- $300 million in all -- will come from cuts spread across the university's 10 campuses. The specifics of those cuts will be left to individual chancellors, who will make presentations to the Regents at the July 15 meeting. Read more
In the press conference, Yudof said "we're going to have to look at everything, at where the revenue is coming from and how to enhance it, and how to reduce expenditures without closing the door to student opportunity and research."
The California State University system is also facing major changes. In an attempt to decrease enrollment, CSU announced that it will not accept new students for winter and spring terms, which means 40, 000 less students.
I understand we are currently experiencing a recession, but it’s devastating to see young people’s dreams of becoming successful vanishing. If doors to success continue to be closed, how will the “future of America” be prepared to face the future?
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