State Higher Education Finance
Per-student state funding to public colleges increased for the 12th consecutive year but saw minimal growth beyond inflation.
In 2024, education appropriations increased 0.8%, surpassing pre-COVID-19 pandemic funding levels in 2019 by 17.9%. Federal stimulus funding decreased by more than two-thirds from 2023, comprising only 0.4% of total support. After 12 consecutive years of declines, enrollment increased by 2.9%. Yet 2024 still marked the largest one-year decrease in tuition revenue (3.7%), creating uncertainty for public higher education revenues as federal stimulus funds are used up. The SHEF report provides a comprehensive look at trends in higher education revenues in fiscal year 2024.
