Higher education in Illinois is in crisis. The state has not appropriated basic operations money to the state universities this year. As a result one institution is preparing to close on May 1 and others cannot guarantee that they will be open when students return in the fall. May 1 is also the day when students traditionally must decide where they will attend in the fall. If students are uncertain about the future of our state universities, they may not plan to attend. Waiting longer to fund our universities may come too late to get those students back. There are three things we can do now to help this crisis.
First I propose that we utilize the Educational Assistance Fund (EAF) as a stopgap to fund the universities through August. The EAF will have about $600 million left in it at the end of the fiscal year on June 30. August is an important time since that is when students return and revenue from tuition, room and board comes to the universities. In SB 2046 (J. Cullerton/Currie), the total appropriation for ordinary and contingent expenses for the state universities and the Illinois Math and Science Academy is $1,079,180,600. This represents a full year appropriation, but there was no identified revenue to pay for it. An equivalent expenditure for four months from May 1 to August 31 would be one third of that, $359,726,867. Read more.