Weekly Market Update
HIGHER EDUCATION FUNDING HALFWAY BACK TO PRE-RECESSION LEVELS
Thursday, April 11, 2019
State per-student spending on higher education is rebounding, though it is only halfway back to its pre-recession levels, according to a new report by the State Higher Education Executive Officers Association, looking at trends in higher education finance since the 2008 recession. Nine states have returned to pre-recession funding levels, while eleven have seen no post-recession recovery. State appropriations, on average, fell more than $2,000 per student after the recession and remain nearly $1,000 below their pre-recession levels. From 2013 to 2018, total appropriations to US public colleges and universities increased 15.2%; the changes ranged from a 19.8% decrease in Oklahoma to a 47.1% increase in Oregon.
In Other News
- 2U, an education technology company, announced that it has entered into an agreement to acquire Trilogy Education, which creates and manages skills-based training programs with continuing education divisions at universities, for $750 million in cash and stock.
- Centene, a health care insurance company with headquarters in suburban St. Louis, has awarded a 10-year, $100 million grant to Washington University's School of Medicine for research into Alzheimer's disease, breast cancer, diabetes, and obesity.
- University of North Carolina at Chapel Hill police arrested two people in connection with the vandalism of a campus monument commemorating enslaved and free black workers who helped build the campus.
- As part of an agreement with the US Department of Education, Texas Tech University has agreed to stop using race when considering applicants to its medical school. The first-of-its-kind agreement forms part of the Trump administration's ongoing attempt to prevent consideration of race in admissions.