State funding for higher education has increased by 4.3% this fiscal year, totaling $129.7 billion. This modest uptick is slightly below long-term averages and reflects state budget surpluses and depletion of federal pandemic aid. Distribution includes $26.7 billion for two-year colleges and $62.5 billion for four-year institutions. However, projected budget deficits threaten future funding levels, potentially impacting enrollment and tuition affordability. Analysts suggest that tough decisions lie ahead for state leaders, emphasizing the need for continued support for higher education to mitigate rising costs for students.
"State leaders are going to have to make tough choices in the coming years. At the same time, states will need to be contributing to higher education in order to help students and families and attempt to keep tuition rates, and the student share of college cost, low."
"This increase reflects widespread state budget surpluses in 2024 and the continued use of what is likely the last of federal pandemic stimulus money; on average, states allocated 2.2 percent more of their federal funding to higher education this year."
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