Affordable Access
Making college affordable for low- and middle-income students and families
Virginia must make a firm and clear commitment of state support to ensure that a college education is affordable and accessible for all Virginians, including those in low- and middle-income families. Such commitment will require reversal of the decade-long trend toward dramatically lower per-student funding
at the state level. While Virginians should be pleased that some state colleges and universities regularly receive high national rankings for value, the Commonwealth is in no sense a low-tuition state. To the contrary, tuition and educational fees at Virginia’s public four-year colleges and universities have more than doubled in the last decade, and in 2008-2009 were the 10th highest in the nation. Virginia likewise ranked 11th in the debt burden borne by graduating students. The average cost for an in-state undergraduate student living on campus in 2008-2009 was equal to 40 percent of Virginians’ per capita disposable income.
These statistics reveal a system under extreme duress, with intolerable consequences for low- and middle income families that are already hard-pressed by tough economic conditions. While there are numerous potential strategies for making higher education affordable for more Virginians, three proposals are especially worthy of attention:
Codified Commitment – Enact a new state law expressing the Commonwealth’s clear commitment to enhanced educational attainment and affordable access, providing a long-term investment blueprint, and locking in a reliable funding source or sources.
Tuition “Rainy Day” Fund – Establish a reserve fund to ameliorate the impact of swings in state revenue collections and protect Virginia families from sudden and steep tuition hikes caused by the familiar boom-bust funding cycle.
Middle-Class Financial Aid – Increase student financial aid for low-income families and provide expanded eligibility for middle-class families.