UM Hosts Senate Hearing on Higher Ed

The Vandenberg Room at the Michigan League was packed for a state legislative hearing on funding for higher education.
The three presidents of institutions in Michigan’s University Research Corridor – backed by students and economic development leaders from each region – testified at a state Senate Higher Education Subcommittee hearing on Friday held in Ann Arbor, making a plea for additional state funding. But while legislators at the hearing acknowledged the importance of higher education, they also gave a bleak outlook for Michigan’s financial health, with one senator describing state revenues as “almost in a freefall.”
State Sen. Jim Barcia, a Democrat from Bay City, told the 50 or so people gathered at the Michigan League that a revenue estimate released earlier in the day was “worse news than anticipated.” The Senate Fiscal Agency estimated that revenues could be $2.1 billion lower than projected for the coming fiscal year, which begins Oct. 1. Even in the current fiscal year, the state faces a $1.3 billion deficit that has prompted another round of cuts. Despite that, Barcia said the students who testified on Friday – including a recent University of Michigan graduate who has launched a new company – gave him reason for optimism. [Full Story]