It is matter of regret that a college education remains an aspiration to many even meritorious students. But to its credit the college students of Colorado have been shielded from exorbitant increases in tuition fees by a regulation that capped increase in tuition fees by 6%.
Change in Policy
But if a new draft policy comes in effect as contemplated by the higher education officials, things will more or less revert to the old policy of having an almost free go in setting tuition fees. It was not that rare to find double digit increases to tuition fees.
In a recent meeting the Colorado Commission on Higher Education sent out a green signal to the Department of Higher Education to go ahead with the particular proposal and refine it before a final decision is made. With the old regulation all set to expire, legislators will have the final say on any policy change.
The cuts in State Budget in the aftermath of the recession in 2008 resulted in state universities and colleges to increase the rates of their tuition. As things stand as of today, universities and colleges receive support of around $740 from the state but raise as much as $2 billion from the revenue earned by charging tuition fees. According to experts in Higher Education the state will be unable to discourage of growth of tuition fees through cost savings at universities and colleges alone. As a cost study conducted by the in the National Center for Higher Education Management Systems found, colleges in Colorado already have less revenue per individual student than institutes in other states.
The Political Side
The state was professedly looking to increase the enrollment of first generation and low income students for many of whom college remains an aspiration and the rising tuition costs raised concerns in political circles who made college affordability an issue in the 2014 elections. In the same year legislators increased higher education funding by 11% and also set the cap in the increase of tuition fees at 6% for undergraduate students who are residents.
According to legislation the final call is to be made by November giving leaders and policy makers some room for maneuvering within that time.
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