Even though spending for higher education nationally is seeing a 1.6 percent increase this fiscal year, that increase is the lowest reported in the last 5 years.
Those numbers come from a report just issued by the Center for the Study of Education Policy at Illinois State University.
The study reveals that the most recent 1.6 percent growth in funding for higher education facility projects is well below the previous four-year average of 4.3 percent.
The most recent fiscal year trends also show 19 states reporting decreases in funding, while some 30 states enjoyed moderate increases of around 2 percent. Only the state of Maine had no changes in reported funding from the previous fiscal year to this fiscal year.
The Center for Study of Education Policy survey comes out as the U.S. Census is reporting spending for private higher education facility projects down some 7 percent in 2017 at $12.7 billion, from a 2016 record of $13.2 billion.
The drop in both public and private funding for higher education facility spending, according to experts, may prove particularly challenging for smaller four- and two-year schools.
In crunching such numbers, Moody’s Investor Service has issued a report saying that any marginal increases at this point in state funding for higher education facility projects would have to be classified as “credit negative,” meaning that continued marginal support could play a role in future ratings.
By Garry Boulard
Get stories like these right to your inbox.