The state budget for 2011 to 2013 showed that funding for K-12 took 38 percent of the budget, spending on post-secondary education consumed a further 8 percent. This of course does not reflect levy amounts.
But, the good news is that for your dollars, 21 percent of college-bound students will fail to graduate from high school. Those from poorer neighborhoods will fail at a 40 per cent rate. Those who manage to attend a four-year college generally manage to finish in 6 years.
Based upon an op-ed article in The Olympian, a study by Georgetown University showed that between now and 2020 our economy will produce 1.2 million jobs, of which 480,000 will be new creations. Of these, they estimate that 336,000 will require (some) post-secondary education.
What really impressed me about this op-ed is that it was written by the president of St. Martin’s University, a quasi-private institution, begging for government funding to provide more money to that institution.
I suggest a plan of action more to my liking. If you attend a private college, then the government will not guarantee your loans. If you wish to attend that school, you must pay. Happy days are not here again, and they ain’t coming.