Proposition CC Would Benefit Higher Education by Providing More Funds to Spend
By Camila Navarrette, Communications Associate
Over the past few years, Millennials and Generation Z have been popular scapegoats for pretty much every economic issue, from lower rates of homeownership to the demise of chain restaurants like Applebees.
The truth couldn’t be further from the conventional narrative. Young people have inherited a range of problems, from skyrocketing health care costs to the impacts of climate change, all thanks to a system focused on making sure the wealthy and big corporations don’t have to pay their share that — surprise — still isn’t trickling down.
Something else we’re blamed for? The increasingly inaccessible and expensive road to obtain a college degree. There is a solution to these problems, and Proposition CC, which is on the ballot for Nov. 5, is part of it.
As in every state, some of the taxes Coloradans pay support higher education. It makes sense — college degrees are associated with higher wages, employment and economic mobility. Investing in higher education benefits all of us because when people are more secure economically, everyone is better off. Unfortunately, we only need to glance at state funding for our colleges and universities to see our investments in higher education aren’t keeping up.
In 1995 — the year I was born — Colorado dedicated 14.9% of the General Fund (the part of the state budget that doesn’t have restrictions over where it can be spent) to higher education. In the 2017-2018 budget — the year I graduated college — the state gave only 8.4% to higher education. In 2000, Colorado funded two-thirds of a student’s cost of higher education, while the student was responsible for one-third. By 2016, that ratio had flipped. Students now carry more of the financial burden.
The combination of decreased state funding and skyrocketing tuition costs has been a contributing factor in nearly half of Colorado students’ needing to take on debt to afford college. And for those students, myself included, the average debt is $28,650. Currently, Colorado is at the bottom of the barrel when it comes to higher education funding and ranks 48th in the nation, according to the Colorado Department of Higher Education. Debt to pay for tuition, books, room and board, and all the other costs of going to college create more financial barriers for families trying to get ahead.
The solution is in front of us — Coloradans can vote yes on Proposition CC to invest an anticipated $88.1 million in higher education. In total, the state would be able to provide about $264 million for other underfunded areas like K-12 education and transportation.
Addressing our state’s neglected needs wouldn’t be free, of course, but it’s not a big ask. For someone earning the median income of $69,000, they would forgo $27 of their 2021 state tax refund to support and improve these crucial public investments. For college students, even $27 can be a nice boost to your budget, there’s no denying that. But the collective benefit of fixing potholes, reducing traffic congestion and reinvesting in students and families is worth it.
After years of seeing our roads and schools deprioritized, a majority of Coloradans are ready to invest more in education and transportation. Proposition CC won’t be a magic solution to solve all of our fiscal challenges, but it’s a starting point to help the state evolve our programs to match the growth of its population and make sure that we’re setting ourselves up for a brighter future. I’ll be voting yes on Proposition CC in November – and you should, too.
Originally submitted as a letter to the editor to MyMetMedia.Learn more about Proposition CC here.
