Will the $10 Billion Deficit in Pension Obligations Affect the Quality of UC Education?
The perfect storm: increasing numbers of qualified high school graduates for UC admissions, baby boomers maturing to retirement, who were promised generous pensions–which UC administrators did not fund for 20 years starting in the early 1990’s–and current reductions in state funding for higher education–all put pressure to increase tuition–while at the same time real wages are flat and parents (of potential UC applicants) are concerned about their own pensions.
How will the UC navigate these complexities, while not compromising the quality of education, nor the future economic prosperity of California’s workforce*?
For prospective UC students and their parents, asking more informed questions about how an individual UC campus is coping with reductions in funding and still supporting the academic development of students will give the information needed to understand the potential “return on investment” of their tuition dollars and 4-5 years of effort for their future prosperity.
*Note: An independent study determined the UC generates $46.3 Billion in economic contributions to California’s annual economy and provides 1 in 46 jobs in the state.
For more information see The Sacramento Bee
Jill Yoshikawa, Ed M, is a University of California and Harvard trained educator and Partner at Creative Marbles Consultancy.