How Should the State of Colorado Generate Funds for Higher Education - Essay Example

Order 320612 Topic: How should the of Colorado generate funds for Higher Education? Introduction One finds the practical application of the maxim, ‘Every crisis is an opportunity,” in the educational front in the State of Colorado. Education today is a big industry and is managed like the Chief Executive Officer runs a multinational organization. The streams in each subject are multiplying and the funding challenge is increasing in geometrical progression. The ‘production’ in various faculties can not be stopped and the demand and supply position is ever on the increase. The constitutional guarantees and the fascination of the younger generation for professional and white-collar jobs are unstoppable. Not enough General Fund revenues are available for allocation to higher education. Though the department of education is highly important, the Government has many compulsive priorities which are given preference like Defense. But the legislators have to do serious re-thinking now. Learning areas are spreading in all the directions, like the growth of octopus; therefore, in the budgetary allocations education needs to be given top priority, next only to defense. The scenario for funding education: The issues related to funding education are genuine with no scope for short-term solutions. The economy is weak. The statutory and constitutional restrictions have the telling effect on the budget allocation for Education. State agencies have experienced the pangs of budget cuts. Unfortunately, higher education has been given the ‘honor’ of sustained disproportionate larger General Fund reduction. The budget makers are aware of the fact that the institutions providing higher education have the capacity to generate additional revenue through increase in the tuition fees. One sees the chain reaction as for the increase in the number of students at every level. Students graduating form public schools are on the increase. Consequently, the percentage of high-school graduates seeking higher education has increased. Between 1996 and 2000 those seeking college education increased from 86% to 94%, and Colorado’s rank rose to 6h highest. The projected state funding to support higher education directly or through the College Opportunity Fund, decreased significantly. “Colorado policymakers and the statewide business community embrace a long-term vision for our state as a place of opportunity, economically strong, culturally rich and environmentally healthy.” (Transforming….) No plan, no institution, that depends on the assurances and hopes of grants from other agencies, can succeed in the long-run and may be let down at the crucial junctures, when it needs the funds for infrastructure developments. Without proper infrastructure additions at the right time, the State of Colorado will lag behind in progress in the educational front. This leads to the neglect of every area that contributes to the overall progress of the country. So, the only alternative for Colorado is to link aspirations for the future, with the will to transform the capacity of its colleges and educational institutions. Though Colorado excels in many areas of modern lifestyles, in the field of education, it is walking back. “Over the past two decades, circumstances have prevented Colorado from fully capitalizing on its historic investment in its colleges and universities. A recent study found Colorado higher-education funding trails peer states by more than $832 million; $520 million of this is at our states research universities. It would require $834 million simply to bring Colorados higher-education funding up to the average, assuming all other states make no additional investments until we catch up.” (Transforming…) So, the solution is simple and straightforward. “…. a vibrant system of higher education demands a new public partnership among state government, institutions and citizens.” (Transforming….) Any one agency can not accept the sole responsibility. When one is a partner in any venture, one understands its working capital problems and systems of priority. The importance of education in the present-day world scenario does not need repeated emphasis. Those who have the welfare of Colorado at heart need to be aware of the merit of placing priority on higher education. Educational progress means economic prosperity and improvement in the overall quality of life. The blueprint for progress in the coming decade may be constructed on the following lines. a) The State must intervene to initiate progressive steps, aggressively. Education should no more be considered as a ‘back-bencher’ as compared to budget allocation for other sectors. Historical mistakes have been committed, a step-motherly treatment has been given to Education and that position needs immediate reversal. b) The responsibility to generate adequate funds rests squarely on the shoulders of the governor, legislature and the business community. Colorado citizens need to remain vigilant and responsive to secure proper educational facilities and rights for their children. It is their personal obligation as well as social responsibility in the broader sense. “Address fiscal constraints that have left Colorado institutions significantly behind their peers in funding levels and ability to compete for faculty and staff; reform the statewide higher-education funding system to more fairly fund all of public higher education and its priorities, including economically important, high-cost programs in fields such as engineering, nursing, information technology, health care and the sciences.”(Transforming….) c) Instead of worrying and concentrating on the cost of providing higher education to the aspiring students, it is necessary to make a profound analysis, the accruing results and benefits of owning a highly educated population in all the segments. Higher education sets forth a beneficial chain reaction in the economy of the State. The institutions need to be given adequate revenue support to enable them to provide quality education that raises the promise of reasonable student success. For this, the best faculty needs to be arranged and adequate real costs must be provided by the State. The remuneration has to be fixed on an ideal scale as compared to other industries. Invitation to best talents means high salaries and perquisites to maintain their comfort level and efficiency. d) The demand for budget allocations for Education rises in geometrical progression every year, and any attempt to cut it is detrimental viewed from more than one ends. e) “With one of the most educated populations and the eighth-highest per capita income in the nation, Colorado already has a sound basis for capitalizing on these emerging opportunities and investing in higher education as one of the states top priorities. Our public higher education system is diverse, with a strong network of community colleges, state colleges and universities, and four top-ranked research universities that all boast strengths in the sciences, technology, engineering and mathematics.” (Transforming…) An awareness campaign to educate the public about the need to constantly augment the infrastructure for education and the role they can play through individual and institutional grants is worth trying. It may pay rich dividends. Providing education to the younger generation should not be considered as expenditure. It is the investment for the overall prosperity for the future of Colorado. Transforming impacts have been researched by providing higher education, and the economy gets the boost with the educated and trained workforce. When quality labor is available, industries are attracted to that location, and once the industries are established, everyone reaps the benefits. “Recent regional analysis from the Kansas City Federal Reserve identified especially the powerful role a doctoral degree-granting research university has on the prosperity of a region.”(Transforming….) The various wings of the administration of Colorado are thoroughly convinced about the importance of education in this materialistic age, impacted by industrial and internet revolutions. The administration can not afford to look back and the only choice is to look forward. Colorado needs to capitalize on its present strength and get ready for global competitiveness. Higher education is not only an employment giving tool to the younger generation; it is the transforming force of the future generations. It now depends what Colorado does from what the predecessors have left and from where they have left. “This will require the leadership of the governor and legislature, in cooperation with the business community, in placing the health and vitality of Colorado higher education at the forefront of the states agenda in the decade ahead.”(Transforming….) Conclusion: When one mentions the topic of Education before the authorities in control, they need to be made aware that they are the ones who guide the destiny of the combustible younger generation of the State. So, the watchword for the authorities is awareness, awareness and awareness about the supreme importance of education! The number of students seeking higher education is increasing; the streams of education are expanding. The authorities need to cope up with this double expansion, with the required budgetary provisions. It is better to keep in reserve some surplus funds, than to think how cuts may be pushed through. By neglecting education, one is causing irreparable damage to the overall social and economic prosperity of the country. Colorado has committed such mistakes in the past for which the administration and the people are paying the price now. Investment in education is a solid investment for the future prosperity of Colorado in every segment. *********** Works Cited: Article: Transforming higher education in Colorado - The Denver Post7 Jan 2007... www.denverpost.com/search/ci_4953099 - Cached - Retrieved on September 15, 2009 . . Read More