Issue link: https://nebusinessmedia.uberflip.com/i/1095115
16 Hartford Business Journal • March 25, 2019 • www.HartfordBusiness.com faces a $3.7 billion deficit of its own in the coming two fiscal years. In a speech last month, Gov. Lamont acknowledged the challenges college students face in repaying their loans — bankruptcy-proof obligations that can stunt recent graduates' ability to purchase a home, invest in a business, or simply make ends meet. "Kids are graduating with enormous student loans, which they can hardly dig their way out from under," Lamont said. "They can't afford to buy a house because they've got to pay off the loans first. Everybody says: 'Well Ned, why don't you [offer] free community col- lege?' Well, we're a little short of dough in the state, so I can't quite do that." The CSCU system is left with few options, most of them unpalatable, for attempting to address its structural deficit. Tuition hikes and campus closures are possible avenues, while another is an ongoing (and controver- sial) effort by CSCU President Mark E. Ojakian and the Board of Regents to consolidate community colleges into a single institution and shrink the num- ber of administrators overseeing it. Given the state's financial realities, Ojakian said he's forced to walk a fine line in the free-college debate. Community colleges have plenty of need for more funding as it is, he said, so any additional state invest- ment may be better used to improve on-campus student supports, such as financial and academic advisors. But he also firmly believes the state should aspire to make college free. "Debt-free college is a worthy concept," Ojakian said. "I am a big believer that affordability sometimes keeps students out of college, and many times, keeps them from completing [college]." Next week: The Hartford Business Journal will explore some of the challenges that affect student outcomes at community colleges. WINDSOR JUN 2, 2019 JUN 23, 2019 REGISTER › BIKEMS.ORG SPONSORSHIP OPPORTUNITIES ARE AVAILABLE STAMFORD/FAIRFIELD COUNTY *Msg. and data rates may apply. Max. 15 msgs/mo. Terms and conditions and privacy policy at nationalMSsociety.org. Text STOP to 68686 to stop. Text HELP to 68686 for help. >> Free College? continued Average costs to attend colleges in Connecticut* 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Chg. 2009-18 Private nonprofit universities $35,670 $37,655 $40,412 $42,250 $44,387 $47,683 $49,565 $51,472 $52,394 $53,102 $54,647 45.1% UConn $20,654 $22,382 $23,546 $24,738 $25,220 $26,122 $27,244 $28,274 $29,302 $30,002 $31,044 38.7% Community colleges $14,378 $14,933 $15,448 $16,014 $16,337 $16,735 $17,176 $17,360 $17,253 $18,076 $18,217 22% CSCU** $18,887 $20,131 $21,033 $22,391 $21,932 $22,806 $23,639 $23,693 $24,278 $24,978 $25,669 27.5% * The total costs in this chart include tuition and fees, books and supplies, off-campus room and board and other expenses. ** CSCU includes four-year schools CCSU, ECSU, WCSU and SCSU Source: U.S. Department of Education, IPEDS Gov. Ned Lamont recently told a MetroHartford Alliance crowd that he'd like the state to offer free community college, but he's not sure there is funding for it. HBJ PHOTO | MATT PILON