For Immediate Release
July 18, 2017
Treasurer Torsella Responds To The State System’s Tuition Increase
Harrisburg, PA – Pennsylvania Treasurer Joe Torsella today responded to the vote by the Board of Governors of the Pennsylvania State System of Higher Education to increase tuition by 3.5 percent.
“It’s deeply disappointing that the leadership of Pennsylvania’s public higher education institutions would place a heavier anchor around the necks of students trying to prepare for tomorrow’s jobs. Pennsylvania’s higher education system is in desperate need of reform and reinvestment, not further tuition increases.
“As Treasurer, I am responsible for administering the Commonwealth’s Guaranteed College Savings Plan. Every day in this role, I see the impacts that the Commonwealth’s higher education policy has on our state’s families. Pennsylvania is already ranked the second in the nation for the highest amount of college student loan debt. Yet, the Board of Governors of the State System has approved a 3.5 percent increase in tuition for the 2017-18 academic year—above the rate of inflation—which they acknowledge is their third increase in a row.
“While I understand the challenges facing the State System, this is not the news Pennsylvania families need to hear. With 95 percent of newly created jobs requiring post-secondary education, we need to have a much bolder conversation about how we are assisting our students to get the education they need. Forcing over-burdened families to pay more is not the right path forward.” Pennsylvania Treasurer, Joe Torsella
Heidi Havens, (717) 787-2991 or email@example.com
The Pennsylvania Treasury is an independent department of state government led by the state treasurer, who is elected every four years. The department's primary duty is to safeguard and manage the state's public funds. It invests state money to generate income on behalf of the citizens of Pennsylvania, reviews and processes payments for state government agencies, and serves as custodian of more than $100 billion in state funds. Key Treasury programs include Unclaimed Property, PA 529 College Savings Program and the Board of Finance and Revenue.