FACTSHEET: Investing In Higher Education

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FACTSHEET: Investing In Higher Education

Published: Wednesday, March 11th, 2015 @ 8:17 pm
By: Chris Downey ( More Entries )

Press Release:

The taxpayers of North Carolina have historically made a tremendous commitment to education, and the next biennium will continue that legacy. More than 54 percent, or over $12 billion of our General Fund spending will be directed to education in each year of the biennium.

North Carolina spends a greater percentage of tax revenues (17 percent) on higher education than any other state, and our in-state tuition is third-lowest in the country behind Louisiana and Arkansas.
- This budget continues our commitment to the UNC system by fully funding enrollment growth for the biennium.
- Allocates $8 million to the Brody School of Medicine at East Carolina University.
- Asks the UNC system to prioritize its spending by identifying savings equivalent to 0.1% of its overall budget, which can be done without any impact on students.
- Encourages the UNC system to:
- Eliminate redundancies and inefficiencies, especially in its "back office" functions.
- Reflect the impact of advances in technology that continue to revolutionize education.
- Ensure that students are prepared for the workforce of tomorrow.
- Saves $18 million by mandating that no school in the UNC system spend more than $1 million in state funds on its private fundraising efforts, a change that affects 12 campuses.
- Continues North Carolina's commitment to offer in-state tuition to qualifying nonresident veteran students. Appropriates $5.4 million and repurposes $5.9 million of Yellow Ribbon matching funds to offset lost tuition revenue.
Accelerates the North Carolina talent pipeline by funding community college classes year-round, including in the summer, just like North Carolina businesses.
Provides funding for a critical upgrade of the College Information System, the central data system used by all 58 community colleges.
- Invests $5 million for community colleges to purchase current, up-to-date equipment and technology used to prepare students for STEM careers.
- Adjusts the budget for the community colleges to reflect decreased enrollment.