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Finding a way to fund higher education in Virginia
Financial Institutions practice group leader and Richmond partner Jake Lutz was quoted in a November 2011 Virginia Business article titled “Finding a way to fund higher education: Where will Virginia get the money to produce 100,000 more college graduates?”
The article examines the College of William & Mary’s president’s proposed, bold plan of letting the market determine the cost of in-state tuition at his school, as well as the decades-long struggle Virginia has had in finding ways to financially support its higher-educational institutions.
“The problem is that the percentage of funding that the state has made available to pay for education has been going down every year,” stated Lutz, a former member of the State Council of Higher Education for Virginia and former rector of Virginia Tech. “There is no clear strategy for replacing that investment.”