College of Engineering Funding - at a Crossroads
Today, all public institutions are experiencing the results of reductions in government spending. The face of higher education is changing; the distinction between public and private universities is blurring -- a fact that's leading to the increased privatization of public higher education.
With this decrease in funding, public institutions are becoming more like their private counterparts. This shift relates, in part, to the fact that many people now see postsecondary education as a private benefit rather than a public good. This outlook enables them to justify smaller appropriations, shifting the burden of cost to students, endowment income and private gifts.
In 1999, 12 percent of projected revenues came from state appropriations. In 2004, that figure dropped to 9 percent. This decline in state appropriations seems to forecast a steady movement of state funds from higher education to other destinations. Consequently, the College will continue to emphasize fundraising and building its endowment to accomplish its initiatives.
