College tuitions increasing as much as 21%

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Tuition at the state’s colleges and universities is likely to jump 21 percent to compensate for education cuts to the state budget.

The state cut $50 million in funding from the University of Colorado’s budget in fiscal year 2008-09 and an additional $71 million the following year.

Last week, the state’s colleges submitted financial accountability plans to the Colorado Commission on Higher Education, but¬†institutions won’t set tuition rates until a state budget is finalized.

Colorado ranks 48th in the nation in state funding per resident student for public universities and colleges. Since July 2009, the state has cut higher-education funding by nearly 60 percent.