The following excerpts come from the Governor’s prepared remarks, which you can see by clicking here:
In higher education, our October actions reduced schools’ 2009 base budgets by 5 to 7%. For 2010, I have increased the reductions to 15% for all schools, except the community colleges and Richard Bland, which will have the reduction level increased to 10%.
My introduced budget includes nearly $26 million in additional money for need-based financial aid. This money will bring every institution up to at least 65 percent of the target financial aid level that has been recommended by SCHEV. My introduced budget also includes increases in the Community College Transfer Grant program, helping more students begin their higher educations at a two-year college and then transfer to a four-year institution to get their degree at a lower cost to their families…
While there are many challenges ahead of us, we can look forward with hope. Even in this atmosphere, our excellent schools, colleges and universities produce the ideas and graduates that will keep driving our economy. The advances we have made in career and technical education and our restructuring of workforce efforts under the community college system enable us to better prepare our dedicated workforce. Our international connections through the Port of Virginia and Dulles Airport give us a unique ability to be a leader in global commerce. These strengths and many others of our beloved Commonwealth continue to be our ticket to a prosperous future.