Higher ed. funding up 7 percent
May 9, 2008
Despite nationwide panic about the U.S. economy, state legislators are increasing state funding for colleges and universities higher than the rate of inflation.
The General Assembly planted a seal of approval on Missouri’s higher education budget this week, increasing funding for state colleges and universities by 7 percent compared with last year.
The UM system received roughly $450 million for its general budget, up about 4.5 percent from the $430 million approved last year. This does not include financing for the UM system hospitals or health services.
Legislators approved the higher education funding first in the House on Monday night, and then by the Senate on Tuesday. The next stop is approval by Gov. Matt Blunt.
Sen. Rob Mayer, R-Dexter, sits on the Senate Appropriations committee and was one of the 34 votes in favor of the budget.
“It’s a good thing for the students of Missouri,” he said.
Mayer said Missouri has been relatively fortunate in regard to the economy, which was part of the reason for the 7 percent jump.
The fiscal year starts July 1.
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