The policy initiatives the board has proposed would all together amount to around a $400 million increase in investment into public higher education, which would represent a 20% increase over current annual appropriations.
Doubling the amount of state-funded financial aid for public higher education students to $400 million a year is among the recommendations a state board is making to capitalize on a"unique moment of opportunity" in education funding.
The board is also recommending that the state provide additional funding for resources to support low-income students, expand the Department of Higher Education's capacity to invest in the Higher Education Innovation Fund, codify the state's commitment to fund faculty salary increases through collective bargaining agreements and provide more transparency around student tuition and fees.
"This is not just a random moment," Gabrieli said."It's been talked a lot about -- Question 1's explicit earmark of public colleges and universities as one of the three uses, it really calls into question, 'Do we have, what could be called to use an old term, a shovel-ready plan?' ... Happily, 13 months of work, or really 15 months, has culminated in a moment where I think we can bring a responsible, considered plan forward.
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