The Friday Memo - 11-20-2009

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2010 IBHE Meeting Schedule
January 26 Chicago
April 6 Chicago
June 1 Springfield
August 10 Chicago
October 5 Chicago
December 7 Chicago
November 20, 2009
U of I study concludes only tax increase can lead state out of fiscal crisis
Tax increases are the only solution to a widening budget crisis that a new study says has landed Illinois among the nation’s most financially troubled states, a soon-to-be-released report by a team of University of Illinois economists warns.
Illinois is among nine states spiraling toward an economic disaster that could rival California, where a $24 billion budget shortfall has netted IOUs, widespread layoffs and forced furloughs, according to a study released last week by the Pew Center on the States, a nonpartisan think tank.
With a roughly $11 billion budget gap of its own, Illinois can only duck a similar meltdown by raising taxes, says Daniel McMillen, an economist with the U. of I. Institute of Government and Public Affairs who co-wrote an analysis of the state’s fiscal crisis for an upcoming report on critical issues facing Illinois.
What does college cost?
The New York Times, in recognition that this is the college-application season, asked College Board economist Sandy Baum to discuss the cost of college. Baum is the lead author of the College Board’s annual report on tuition. Here is what she had to say.
NYT: What’s the most common misperception about college costs?
Baum: Families and students consistently overestimate the price of college. Headlines frequently focus on the most expensive colleges, but the United States system of higher education includes a wide variety of institutions offering diverse educational experiences and a wide array of prices. Public-two year colleges — typically known as community colleges — generally have much lower tuition than public-four year colleges. Public four-year colleges cost less than private colleges. However, even among private colleges, prices differ by thousands of dollars.
The other major confusion is between the published price, sometimes called the “sticker price,” and the net price that students actually pay after taking grant aid into consideration. More . . .
In Missouri, tuition in the deep freeze
ST. LOUIS - For the second year in a row, in-state, undergraduate students at Missouri's four-year, public colleges and universities won't see tuition or academic fees rise by a penny.
Beware the zombie
UPCOMING
November 23 Working Together to Prepare Illinois School Leaders Part 4: Next Steps, Bloomington December 8 IBHE meeting, University of Chicago
February
23-24 "Digging Deeper: Using the Induction and Mentoring Continuum for Program Advancement" Registration now open.