Facing reductions in state funding, public universities from Michigan to Arizona to North Carolina have slashed budgets and hiked tuition. The most extreme case is California where University of California regents voted this week to increase tuition a whopping 32% to more than $10,000 annually a three-fold increase in a decade.
California’s crisis continues while Gov. Arnold Schwarzenegger and legislative leaders inch slowly toward agreement on the deep cuts necessary to close California’s massive $26 billion budget shortfall. Now, even as the state continues to pay its bills with IOUs, the University of California, the nation’s leading public university, is being forced to cut its budget by $813 million or 20%