State funding has drastically decreased for public institutions, including universities, colleges and nonprofits since the Great Recession, and now these institutions struggle to regain financial momentum. With at least a 34 percent drop in state appropriations for public institutions, nonprofits and universities look to other sources to help alleviate the financial burden that often falls on students or even those who are supposed to benefit from these institutions.
A new report released by the American Academy of Arts and Sciences documents the change in funding for public institutions in the last decade and suggests a number of solutions to adjust for the change.
The report foremost suggests improving leadership by strengthening governing boards in order to set new goals and implement new strategic planning and investing. The report also suggests that universities should use their funding efficiently instead of creating financial burdens for students by increasing tuition, which the report argues will lead to less diversity. Lastly, it urges leaders and government officials to reevaluate how they allocate funds, arguing that funds are reduced for these public institutions to aid other less important sectors.
Read full story at: NPQ