Isn’t it a business axiom that you’ve got to spend money to make money?
Ellis wants lawmakers to invest close to $1 billion for the TEXAS Grant program that helps middle-class and lower-income students pay for college. That would more than double current spending on the scholarship program.
Senate Finance Chairman Steve Ogden, R-Bryan, said he supports “more financial aid and keeping tuition and fees low.” But he laughed and walked away when asked about Ellis’ pitch for a hefty financial aid budget increase. Ellis acknowledged getting a “chilly reception” from his colleague.
Stagnant funding for the TEXAS grants have combined with soaring college costs since lawmakers deregulated tuition four years ago, resulting in 70,000 students losing their grants in the past two years.
Texas ranks No. 41 among the 50 states in producing college graduates. That status could drop even lower, according to the U.S. Department of Education, as Hispanics and African Americans become a larger majority of the state’s population.
Georgia spends $51.99 per person for college financial aid compared with the $16.08 per person Texas spends, according to the National Association of State Student Grant and Aid Programs. Texas ranks last in per capita spending for college grants among the 10 most populous states.
I guess ten years is too much to expect for an investment to payoff. What do you expect from someone who tries to cut children’s health insurance recipients by increasing the administrative hassle in making families apply every six months rather than yearly? But then again, if these kids never make it to college, the state wouldn’t have to worry about funding financial aid either. Good thing since there wouldn’t be anyone around capable of paying the taxes to do it.