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Joint Budget Committee approves $39.8 million higher education package, sets 3.5% resident tuition cap
Summary
The committee approved $39.8 million in new general fund for higher education, set a 3.5% cap on resident tuition increases and directed $7.5 million to need-based grants; members debated reallocation of a $10 million COSI program and disparities in institution base funding.
The Joint Budget Committee approved a package of higher education appropriations and related policy steps that together add $39.8 million in general fund for public institutions for FY 2025'26 and set policy direction on tuition increases and financial aid.
Committee action included a motion to appropriate $39,800,000 general fund to higher education (motion passed 6'0'00) and a follow'up motion that set a 3.5% cap on resident tuition increases at public institutions (passed 6'0'00). The committee also approved a $7,500,000 appropriation into need'based grants to align financial aid with new tuition commitments (passed 6'0'00) and set nonresident…
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