By Richard F. Keevey
Higher Education is facing difficult times. The economy presents challenges to students, parents and universities; our globe has narrowed, so students must be trained more broadly, not just in a body of facts, but in methods and techniques of solving problems and understanding complex systems; jobs are clearly on the minds of our students and employers, and the cost of higher education is beyond the reach of many families.
Nationwide, the median household income fell by 7 percent between 2007 and 2011, while the average real tuition at public universities increased by 18 percent. College tuition increased twice the amount of health care over the past 25 years.
Higher education appropriations in New Jersey were reduced 14 times between 1986 and 2011, which significantly shifted the cost to students and families.
Higher education here faces problems from a state and institutional prospective. Consider the following: New Jersey leads the country in net outmigration of college-bound students; we lose a net 29,500 of college-bound students. The stress on the state budget — specifically Medicaid, K-12 education and retirement costs — threaten higher education funding. New Jersey has the third-highest four-year public institution tuition and fees in the nation. Student debt is the 10th-highest in four-year public and private nonprofit institutions.
Total debt of New Jersey institutions is almost three times more than other public universities.
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