Virginia Gov. Bob McDonnell will call for $50 million in new funding for higher education when he proposes amendments to the state’s budget, he announced Friday.
The governor announced the initiative to his higher education reform commission Friday at Virginia Commonwealth University in Richmond.
“These are tough times in our state economy, and our state budget,” he said. “But we must have the foresight to invest wisely in the core functions of government that are key to the future of the Commonwealth.”
McDonnell wants to see 100,000 more college degrees awarded over the next 15 years.
McDonnell also said that he plans to introduce a research and development tax credit to boost the state’s competititiveness, and work with the commission on a public-private strategy to increase degrees in science, technology, engineering and math.
Recommendations laid out at Friday’s meeting include enhancing availability and affordability of online courses, promoting enrollment of students who attend community colleges before going on to complete their degrees at four-year schools and provide more need-based financial aid.
