Illinois college's fund drops 50% tuition goes up 4x in a decade?
I'd like to apologize for continually shi-ting all over Illinois by stating the facts. I need to lighten up.
1 big thing: College funding drops, tuitions rise
By Justin Kaufmann and Monica Eng, Axios
Apr 13, 2023
If your eyes are popping at the cost of college in the state, you've got good reason.
What's happening: State funding for Illinois colleges has dropped by nearly 50% since 2000, after accounting for inflation.
Meanwhile, tuition has more than doubled to make up for the lack of state support, according to a new report by the nonpartisan, nonprofit Center for Tax and Budget Accountability.
Why it matters: The price increases and funding drops have made affording college tough, especially for lower- and middle-income families.
Enrollment at Illinois public college and universities dropped 21% from 2010 to 2021, a rate four times greater than the overall national decline.
The intrigue: This disinvestment in public education helped drive the money shortages at universities including Chicago State, Governors State and Eastern Illinois that are now on strike.
Zoom in: In-state tuition at the University of Illinois at Urbana-Champaign for 1999-2000 was $4,526. In 2023-24, it will be $17,572 to $22,836.
A full year of school including fees, before aid, will cost between $35,000 and $40,000.
The big picture: Though college isn't the only path to economic stability, the report notes that the unemployment rate for Illinoisans without a four-year college degree is twice the rate of those with one.
It also notes the benefits of a college degree on wages, economic development, community health, well-being and social mobility.
What we're watching: Illinois' finances have improved recently following higher-than-anticipated tax revenues, enabling Gov. JB Pritzker's administration to recommend boosting funding of public higher education by $219 million, or 9.7%, for FY 2024.