Colleges can’t use tuition subsidies as excuse to raise it
As college and university regents and trustees meet this month to approve budgets and determine tuition rates for the upcoming year, they must deliberate with foresight, considering the implications not only for today’s students but tomorrow’s.
The future of our state as a beacon of higher education equity and affordability is at stake.
New Mexico recently achieved a groundbreaking milestone by enacting the largest trust fund for tuition-free college in the nation, allocating a staggering $959 million. Additionally, a record $162 million is earmarked for the Opportunity Scholarship fund this fiscal year. Gov. Michelle Lujan Grisham’s recent approval of a record $1.1 billion for higher education underscores our state’s unwavering commitment to educational advancement.
These investments demonstrate our state’s dedication to accessible and affordable higher education opportunities for all New Mexicans. In our state, there is no wrong door to higher education.
However, history has shown that some colleges and universities have used state scholarship funding as an opportunity to raise tuition. In fact, several schools hiked tuition — some by as much as 9% — immediately following the passage of the Opportunity Scholarship Act. This is contrary to the spirit of the program and diminishes its reach and effectiveness.
As regents and trustees convene to deliberate on budgetary matters for the next fiscal year, I implore them to consider the repercussions of their decisions on both current and prospective students.
While New Mexico Tech’s Board of Regents has approved a 3% tuition hike, the University of New Mexico’s Board of Regents voted against a 3% tuition increase. I applaud the University of New Mexico and Eastern New Mexico University for making the decision to hold the line on tuition costs.
Raising the price of tuition jeopardizes our state’s standing as a national leader in college access and affordability. Our ability to provide tuition-free college hinges on the retention of modest tuition fees, which currently rank among the lowest of any state in
Raising the price of tuition jeopardizes our state’s standing as a national leader in college access and affordability.
the nation. Any deviation from this trajectory imperils the sustainability of our programs and restricts student accessibility.
Our colleges and universities must make themselves worth the price of tuition by improving lagging rankings in key areas such as graduation and retention rates. They must restructure and reprioritize their budgets to cut waste and focus on instruction that prepares students for the jobs of tomorrow and improves New Mexico’s ranking amongst our nation’s institutions of higher learning.
The good news is that according to U.S. News and World Report, we as a state have increased our ranking to 24th in higher education overall and second in low debt at graduation. While we rank seventh for low tuition and fees compared to other states, we must also consider the low median earnings of our residents and what tuition increases mean for their ability to afford college. Policy led by the state singlehandedly made this possible, but it’s up to New Mexico’s colleges and universities to step up.
The current rankings of two of our research universities rank in the top 300 universities nationwide, which is less than ideal when considering factors such as four-year graduation rates, retention, job placement and graduate earnings. By comparison, universities like Arizona State University (105th) and Oregon State University (142nd) demonstrate higher success rates and offer better services and housing to students. It’s evident there’s room for improvement. New Mexico colleges and universities can and must do their part to enhance retention and graduation rates, moving our state above the top 20 for higher education nationally.
Our collective obligation is to uphold the promise of tuition-free college, ensuring equitable access to higher education for all New Mexicans. Let’s remain steadfast in our commitment to educational prosperity. When we empower our students, we fortify the foundation of our collective future.