The Governor’s FY08 budget proposes a $1.1 billion increase in Education Cost Sharing. While this increase is needed, there remain many concerns about how the formula that distributes these funds is to be changed. The Governor proposes increase in the foundation level, which has been frozen for years. However, the increase would be phased in over five years, which means that the foundation five years from now (in 2012) would only be at the level that it should be now (in 2007), had the foundation not been frozen.
While moving in the right direction with a significant funding increase for need-based scholarship aid, the Governor’s investment in higher education does not reflect the same commitment as to K-12 Education. State funding for UCONN and the CT State Universities under the proposed budget is less than their current services needs. The proposed increases do not make up for funding cuts made in the last recession, escalating costs for higher education, and the system’s burgeoning enrollment.