UNIVERSITY PARK, Pa .– The Pennsylvania General Assembly has passed a state budget that maintains Penn State’s current funding levels for the 2021-22 fiscal year, which begins July 1. signature, includes $ 242.1 million in level funding for the University’s General Support Credit, $ 54.96 million for Penn State Agricultural Research and Extension, and $ 26.74 million for the Pennsylvania College of Technology .
“I am grateful that our leaders in Harrisburg have once again kept the University’s funding intact, providing a welcome source of stability during a time of uncertainty,” said Penn State President Eric J. Barron. “Our long-standing partnership with the Commonwealth helps us be successful in our efforts to provide Pennsylvanians access to world-class education close to home and impact our communities through the services offered by Penn State Extension, Invent Penn State and Penn State Health. We have continued to live up to our mission despite the challenges of the pandemic, and we look forward to delivering an excellent return on the state’s investment over the coming year. “
The General Support Credit helps offset tuition fees for residents and complements the University’s access and affordability initiatives. Each year, more than 50,000 Pennsylvania students and their families benefit from tuition fees in the state that are a direct result of state support. Penn State then takes the per-student investment provided by the credit and doubles it, saving Pennsylvania resident students an average of $ 10,500 per year in tuition fees.
State funding also allows Penn State to invest in the quality of its university programs, helping to attract Pennsylvania’s top students and prepare them for successful careers after graduation, and supports the University’s efforts to spur innovation, stimulate economic growth and create jobs in communities across the Commonwealth through the Penn State Invent initiative.
Additionally, state funding supports Pennsylvania’s agricultural research and extension operations that translate scientific knowledge into practical solutions that benefit people, businesses, and communities in Pennsylvania’s 67 counties; providing significant funding for the Pennsylvania College of Technology at Williamsport, a wholly owned subsidiary of Penn State that focuses on teaching applied technology; and improving access to high-quality health care through Penn State Health and the College of Medicine, which also receive state support.
With the University’s state allocation now set, Penn State’s operating budget and tuition schedules for the 2021-22 fiscal year will be finalized and presented to the Board of Trustees for consideration at its time. next meeting July 15-16 at University Park.
Last updated June 25, 2021