As South Carolina families struggle to afford a college education that experts call critical in the new economy, the state and nation’s top executive officers have rolled out potential financial consequences to discourage large tuition increases.
Gov. Nikki Haley’s budget proposal and recent statements from President Barack Obama reflect growing public concern on both sides of the political aisle over college cost.
Obama criticized skyrocketing tuition in his State of the Union address and a University of Michigan talk. A new White House document proposes shifting federal aid from colleges “that don’t keep net tuition down and provide good value.”
Haley has worked with the state’s college presidents and the state Commission on Higher Education for a year to develop accountability-based funding. Under her state budget proposal for higher education institutions, access and affordability account for 30 percent of the formula used to determine how much money a school gets.