The stalled budget process in Springfield could soon cause problems for college students who depend on financial aid.
The stalled budget process in Springfield could soon cause problems for college students who depend on financial aid.
Gov. Patt Quinn and state legislators are at odds on how to close a projected $9 billion shortfall. Quinn has proposed a 50 percent income tax hike, but Democrats and Republicans are split on just how much taxes should be raised.
On May 31, the House voted 42-74 against Quinn’s push to temporarily raise the income tax rate for individuals from 3 percent to 4.5 percent. Sixty votes were needed for passage.
“I’m a little disappointed that we were not able to get enough revenue to have a balanced budget for the coming fiscal year,” Gov. Quinn said.
State Sen. James Meeks, D-15th, supports an income tax increase and said without an increase education funding would ultimately suffer. The state has already warned colleges that funding for the Illinois Monetary Award Program would be reduced dramatically. This would affect hundreds of students who depend on the grant to help pay tuition.
“Award letters students received this summer showing how much they will receive for the fall and spring semesters may be in for a surprise. One that could leave them holding the bag,” said Cordell Richardson, a financial planner in the Chicago office of Morgan Stanley, a financial services firm. “If this occurs, you can expect many state colleges to be empty this fall.”
Now one day after the Illinois Legislature failed to hammer out a full budget for the next fiscal year, which began July, local colleges with a large Black student population are bracing for the worse.
“We face losing $20 million for our adult education program and $3.5 million for our technical programs (if the budget stalemate continues),” said Angela Henderson, vice chancellor for City Colleges of Chicago. “Potential(ly) 68,000 students could be affected by all of this.”
CCC has seven community colleges throughout Chicago that offer associate degrees and various certificate of completion for various programs. In 2008, 115,000 students attended CCC. And unlike most four-year institutions where the average age is 20, the average age for a CCC student is 30, according to Henderson.
“Blacks make up 34 percent of the students and Hispanics account for 39 percent, but that’s partly because we offer an English class as a second language and many of them come here for that reason,” Henderson added. “And 60 percent of the students are women.”
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