The Oklahoma State Regents for Higher Education approved today $802.1 million in state appropriations for the state system of higher education for FY 2020.
“We thank Gov. Stitt and our Legislature for investing in public higher education,” said State Regents’ chair Jay Helm. “Data clearly show that states with a higher percentage of college degree-holders have higher per capita incomes and stronger economies. A recent State Chamber Research Foundation report shows that for every dollar of state appropriations invested, the state system of higher education generates $9.40 in economic output. Higher education is the best investment Oklahoma can make for a stronger, more diversified economy.”
For state colleges and universities, the next step in the budget process is to formulate their operating budgets for FY 2020. Following approval by institutional governing boards, the State Regents will consider these proposed operating budgets at the June 27 meeting.
“Moving forward, this increased appropriation from Gov. Stitt and the Legislature will enable the State Regents and our 25 public colleges and universities to enhance our focus on providing our students a quality, affordable higher education opportunity while at the same time addressing our state’s business and industry workforce needs,” said Chancellor Glen D. Johnson. “Our higher education system is recognized in the most recent U.S. News & World Report publication as having the 12th-lowest tuition and fees and 13th-lowest student debt level at graduation in the nation. More than half of our students graduate with no student loan debt. These significant accomplishments demonstrate higher education’s continued commitment to college accessibility, affordability, efficiency and cost savings.”