New Jersey Policy Perspective has released a new report that links decreased state support of public higher education and falling wages to increased student-loan debt:
“New Jersey students and families continue to have a hard time affording the high cost of a college education, thanks to lackluster state support for public colleges and universities. New Jersey has cut funding for higher education by 22 percent since 2008 when adjusted for inflation, a decrease of more than $2,150 per student and a deeper cut than the national average.
“These cuts have increased tuition and student debt, undermined the quality of higher education in New Jersey, and made it harder for the state to attract businesses that rely on a well-educated workforce–-an asset that has long been a trademark of New Jersey and is now in jeopardy.
“As a result of these cuts, the average tuition at a public, four-year college in New Jersey has increased by 14.1 percent, or $1,611, during this period. On top of these tuition increases, colleges and universities across the state have increased student fees, cut staff and faculty positions and offered fewer courses to save money. Together, this means that most New Jersey’s families-–already struggling with slow income gains–-are often paying more for a lower-quality education.”
The complete newspaper article from which I have quoted is available at: http://www.nj.com/education/2015/05/nj_colleges_need_more_state_funding_report_says.html