Friday, May 13 2022

title=wpil_keyword_linkPenn State will ask the state for $ 358.2 million in credit for the next fiscal year, a 5.7% increase from the previous year.” title=”Penn State will ask the state for $ 358.2 million in credit for the next fiscal year, a 5.7% increase from the previous year.” loading=”lazy”/>

Penn State will ask the state for $ 358.2 million in credit for the next fiscal year, a 5.7% increase from the previous year.

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After three consecutive years of lump sum state funding, Penn State is set to seek an almost 6% increase in its annual state appropriations for the next fiscal year.

The largest Commonwealth University has received a total of $ 338.9 million in each of the past three years. For the 2022-2023 fiscal year, which begins on July 1, the university will first request an additional $ 19.3 million, for a total of $ 358.2 million.

“State ownership is a critical factor and it influences the tuition rates of Penn State residents,” University President Eric Barron said in a presentation to the Board of Trustees on Friday, which officially approved the request. “It also includes critical funds that help support agricultural research and extension, medical assistance funding, Penn State Health and the College of Medicine, and the Pennsylvania College of Technology.”

Much of that credit is used to offset the cost of Penn State tuition, which remains the highest of the Big Ten among non-private institutions. And, as Barron pointed out, Penn State currently receives considerably less than the national average: Each undergraduate student in the state has received about $ 5,429 in funding this academic year – well below the national average of 7. $ 642.

A full breakdown of the demand proposed by Penn State:

  • General support: $ 254,201,000 (increase of $ 12.1 million). This primarily saves on tuition fees in the state and also allows the university to invest in its academic programs.
  • Agricultural research and extension: $ 57,708,000 (increase of $ 2.75 million). Tuition fees don’t go to programs here, so funding is paramount – especially since the college has an annual deficit of $ 2.6 million, in part because the university said it was receiving less. state funding here only in 2008. Some of the issues it helps include tackling destructive and invasive species, safeguarding animal agriculture in Pennsylvania, expanding support for product processing. dairy products, the implementation of water quality solutions and the delivery of comprehensive workforce development programs.
  • Economic development (special request): $ 2,350,000 (new funding). This would support the economic development activities and future growth of the Invent Penn State initiative, which helps people start and grow a business, and find licensed technologies and investment opportunities.
  • Penn State Health and Medical School: $ 15,868,000 (increase of $ 756,000). This sum will be used to finance medical assistance, with a part intended to support the preparation of medical students for careers in primary care and rural medicine.
  • Pennsylvania College of Technology: $ 28,073,000 (increase of $ 1.3 million). The funds here would be used primarily to fund upgrades to laboratory facilities and equipment and to increase teaching capacity in high-demand areas, such as the college’s physician assistant curriculum.

Agreeing on what to ask for for state ownership is just the first step in a long process that will almost certainly see tweaks and adjustments along the way. The university typically submits its application in late September, then works with lawmakers over the next few months, before the governor releases his budget proposal in early February.

Allocation hearings will be held in February and March, and discussions will continue until the state budget is approved by the end of June. A month later, Penn State will then officially adopt its operating budget and tuition fee schedule.

“The university’s land grant partnership with the Commonwealth is invaluable, and increased state support for the next fiscal year would strengthen our commitment to keeping a Penn State education financially affordable for all Pennsylvanians, which whatever their background or their means, “Barron added in a press release Thursday.

In 2009, Penn State received a state credit of $ 364.4 million. That total then plunged in 2012 to $ 267.5 million before slowly rising to the current numbers, which remain below what the university received for four of the five fiscal years between 2006 and 2010.

Josh Moyer received his BA in Journalism from Penn State and his MS from Columbia. He has been involved in sports and news writing for almost 20 years. He has the best athlete he has ever seen as Bo Jackson of the Tecmo Super Bowl.


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