State funding for public higher education increased by nearly 5 percent in fiscal year 2022, according to the latest State Higher Education Finance (SHEF) report from the State Higher Education Executive Officers Association (SHEEO).
The boost represents the largest state higher ed investment nationally since the 2008 recession, when massive budget cuts slashed public higher ed funding by $33.8 billion—the impact of which was still feltover a decade later, according to a 2019 SHEF report.