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JBC sets higher‑education funding, approves 3.5% resident tuition cap and aligned aid
Summary
The committee approved $39.8 million for higher education funding (including $7.5 million in aligned financial aid), set a 3.5% resident tuition cap and authorized $7.5 million for need‑based grants to align financial aid with tuition changes.
The Joint Budget Committee on Monday approved the staff funding recommendation for higher education and set limits on resident tuition increases for fiscal year 2025‑26.
The committee approved a funding package totaling $39,800,000 in general funds for institutions of higher education, including a $7,500,000 allocation intended to provide aligned financial aid, primarily for need‑based grants. Members voted to appropriate the funding (motion passed 6‑0) and later voted 6‑0 to cap resident tuition increases at 3.5%.
JBC staff analyst…
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