Senator Terri E.

Bonoff
Chair Higher Ed/Workforce Development 326 Minnesota State Capitol St. Paul, MN 55155 Office: (651) 296-4314

Senate
State of Minnesota

Dear Friends of Higher Education, Today, the Senate DFL caucus released its budget targets for Fiscal Year 2014-2015. The target for Higher Education Committee is set at roughly $2.8 billion, which reflects an increased investment of $262.7 million. This target reaffirms the commitment my colleagues and I share to build a world-class higher education system and 21st century workforce in the State of Minnesota. In addition, I am pleased that Senate Leadership and our Governor stand united on this issue. The dramatic funding cuts to public universities and colleges of years past have driven up the cost of tuition and undermined the state's ability to help produce the well-educated workforce our economy demands to continue to be globally competitive. The national trend of disinvestment in higher education has created a substantial burden of debt on our youth and families, recently topping more than $1 trillion. Typically, in previous generations, our youth have been engines for our economic growth. Saddled with debt, they are now struggling to find the money necessary for a down payment for a car or house. Economic projections indicate that by 2018, 70% of jobs in Minnesota will require a post-secondary education. With this renewed investment in higher education and workforce development, we must give students the advanced training they need to succeed in our economy and begin easing the large debt burden on our students and families. These established targets are only as sound as our ability to pass a final budget. However, we are nowhere near reaching consensus. Therefore, it should be understood that while this target is positive, the outcome remains unknown. In the coming weeks, it will be vitally important that you help our committee develop a budget solution that sets Minnesota on the path to economic prosperity and stability. Over the last couple of months we have heard numerous ideas on how to do this. Now, with your feedback, we need your help in putting the final piece of legislation together. My office is committed to increasing the transparency and accessibility of our work to help facilitate this conversation and hear your ideas. The Higher Education and Workforce Development Committee posts updates to twitter at @HiEdWorkforce, documents and agendas on Scribd.com/mnhiedworkforce, and hearing archives at http://www.senate.mn/committees/committee_media_list.php?cmte_id=3072. I look forward to hearing from you and continuing this important conversation... Best Regards,

Senator Terri Bonoff Chair Higher Ed/Workforce Development