May 25, 2006

College & Money

Charlie Mitchell advises to borrow with caution. His advice is timely as Mississippi's college students face tuition hikes. According the the Sun Herald.

The vast majority of the new funding went toward long-overdue pay increases for faculty and staff after higher education had received virtually no increase in support since 2000. The rest went to legislatively earmarked projects like the University of Mississippi Medical Center,student aid, and the Ayers higher education lawsuit settlement, leaving only $4 million to be used for education and general support.

Facing some $12 million in higher fuel costs and with no help coming from the Legislature or Barbour, the College Board dealt with the financial crunch the old-fashioned way - through yet another tuition increase.

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