Office of the Governor press release, January 3, 2006

STATE OF MARYLAND OFFICE OF THE GOVERNOR FOR IMMEDIATE RELEASE: CONTACT: Governor’s Office Tuesday, January 3, 2006 Shareese N. DeLeaver Henry P. Fawell (410)974.2316 Governor Ehrlich’s Higher Education Budget Highlights Governor Ehrlich 's Fiscal Year 2007 Higher Education budget includes: • A $ 1 72 million increase in higher education funding; • A $1 17.2 million funding increase for the University System of Maryland (USM). This 14.5 percent increase brings state funding for USM to record levels; • An historic $1.5 billion capital campaign for the University System of Maryland (USM); • Funding that allows the Board of Regents to set tuition at no higher than 4.5% increase for Fall 2006; • A $19 million (28 percent) increase for need-based college scholarships. Governor Ehrlich has doubled funding for need-based scholarships, helping more than 1 1 ,000 additional students go to college; • Funding increases for Historically Black Institutions, including $2 million for need- based financial aid, $3.8 million for debt relief at Coppin University, 18.3 percent operating funding increase for Morgan State University, and $100,000 to attract and retain more students at Historically Black Institutions; • Full funding for Cade (community colleges) and Sellinger (independent colleges and universities) formulas; • Enrollment Growth Initiative to assist certain USM campuses with rapidly growing enrollment. This initiative will help roughly 3,300 students go to college. Funding Support: • Governor Ehrlich’s higher education budget is called “extraordinary ” by the Chairman of the USM Board of Regents. The USM Chancellor says Governor Ehrlich’s budget “deserves support from all who care about our state 's future. ” • Despite inheriting record budget deficits, Governor Ehrlich is investing roughly $1.4 billion in general funds in Maryland’s colleges and universities.