The board of Alabama’s financially troubled prepaid college tuition program approved a survival plan that would end the tradition of paying all tuition costs at public colleges and universities in the state.
Public colleges say they will shrink class offerings, slash library and athletics spending and hand out pink slips to employees as they make required budget cuts, according to plans submitted to the governor’s office.
The Bank of North Dakota has been in the business of making federally guaranteed student loans since the program began more than 40 years ago. Today, officials at the state-owned bank wonder if that legacy could vanish.
Mississippi’s community colleges will be taking a hard look at the size of their athletic budgets in the coming weeks after Gov. Haley Barbour’s recommended downsizing or eliminating athletic programs systemwide.
Oklahoma’s chancellor for higher education said there are no plans to repeat this year’s tuition freeze at the state’s 25 colleges and universities, but added it is premature to predict tuition hikes next year to meet higher education’s funding needs.
The program offered a deal to Texas parents with young children: prepay when Junior is small and you won’t have to worry about the cost of tuition at a Texas college or university, even as rates climb. But with the rapidly rising cost of college, the Texas Guaranteed Tuition Plan is going broke.
Federal stimulus funds allocated to Virginia’s public colleges and universities helped keep the average increase in tuition and fees for in-state undergraduates to about 5 percent for the upcoming school year.