The Center on Budget and Policy Priorities (CBPP) recently released estimates of funding cuts and tuition increases at public colleges and universities over the last five years. The results, to say the least, are concerning. State funding has decreased by an average of 28 percent, while public college and university tuitions have increased by an average of 27 percent.
Students face a vicious dilemma: education has become much more necessary but much less attainable. Economists describe growing “degree inflation,” in which professions that traditionally did not require college degrees have begun doing so. The situation forces an increasing number of students to take on unreasonable debt to attend colleges and universities (if not forgo higher education altogether). The CBPP describes the macro-level effects of these trends: lower earning power, concentrations of educated workers and rates of homeownership can continue to depress regional economies.
“The CBPP’s research underscores the fundamental role of philanthropy in public higher education funding,” says Campbell & Company Vice President Bruce Matthews, a member of the firm’s education practice and former higher education fundraiser. “By building their advancement programs, schools can maintain their high levels of excellence, while ensuring that their educations remain accessible to the widest possible group of students.”
Every dollar directed toward fundraising will typically return four to six dollars. Campbell & Company strongly encourages public colleges and universities and their affiliated foundations to invest in their advancement programs to meet today’s critical need for philanthropy.
For more than 36 years, we have partnered with public and private higher education institutions across the country to strengthen their programs to ensure their sustainability and growth. To learn more about our work, visit our Higher Education page or contact Bruce Matthews at email@example.com or (312) 896-8883.