After the recession in 2008, universities and colleges across Oklahoma took a $100 million cut in funding. The Oklahoma State Regents for Higher Education approved to raise the budget for 2016, which requires a nearly 10 percent increase than the funding currently provided.
“We’re going back up in terms of general economic status,” senior Grant Tucker said. “We’re getting out of this recession, so reinvesting it back into education is great. Although I’m very conservative, educational spending is something that makes a ton of sense to me.”
If the $98.7 million increase is approved by the state, it will bring the higher education funding total up to $1 billion, which is more than 2008, before the economy plummeted.
“We’re still operating in this state with $100 million less for higher education than we had in 2008,” David Boren, University of Oklahoma president, said to NewsOK. “It’s impossible to keep up the quality that we need and operate on less and less each year as our uncontrolled costs keep going up every single year — utilities, health care and other costs.”
Governor Mary Fallin launched Complete College America three years ago to increase college graduates. The goal is to grow the number of college credentials and degrees by 1,700 each year for 12 years. However, during the first year, there was an increase of 2,945 new degrees and 3,577 during the second year, exceeding expectations set.
“We are in the midst of significantly changing times in higher education,” Glen Johnson, higher education chancellor, said in the NewOK article. “This reflects our ability not to just react to the changing times, but quite frankly to have a game plan that addresses the needs of our citizens.”
A portion of the requested funding—$1.2 million—will be set toward concurrent enrollment classes in high school. With college tuition increasing, hundreds of Juniors and Seniors in high school across Oklahoma are enrolling in concurrent college classes to get a jump start on their higher education.
“Concurrent enrollment is a great program to incentivize kids to go to college in general,” Tucker said. “I’d be comfortable giving up to half the increase to that.”
According to a study by Georgetown University, the United States by 2018 will need 22 million new workers with college degrees.
“Education is something you can never take away from anyone,” Tucker said.
According to the study, 57 percent of jobs in Oklahoma will require at least some post-secondary studies. That is six percent below the national average, and ranked 40 out of 50 states for the intensity of demand for college education.
Although more states will be demanding college degrees, Oklahoma has a significantly lower unemployment than average, ranking 11th in the U.S, according to a CNN Money Report. Although Oklahoma has one of the lowest demands for college degrees, it boasted the fourth best gross domestic product growth in the nation for 2013.
“It’s a big number, but if we’re spending it on anything—infrastructure and education are two of the most important things,” Tucker said.
The regents have a response for anyone who believes college is a waste of money and time: statistics show that 85 percent of college graduates have a job in the state of Oklahoma within one year of graduation, and they make an average of $1 million more during their life time, according to a NewsOK article.
“Getting money from the state treasure to help fund college means we won’t have to pay so much ourselves,” sophomore Illa Bennet said. “I believe the amount asked for is reasonable.”
Other brackets listed for the funding will be debt service refinancing and initiatives for science, math and engineering.
“It is the effort to invest in the next generation, our most precious asset,” Boren said. “It’s investment time in Oklahoma.”
As of yet, no ruling has been made.
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