For-Profits Remain a Risky Investment for Black Students and the Proposed Gainful Employment Rule Can Help

With the final 2023- 24 state budget being signed, a clearer picture has emerged around California’s fiscal situation and how it will impact our postsecondary space. One thing is obvious: the days of historic surpluses and one-time investments for specific projects are behind us.

TICAS table outline where key investments and policy changes are after the final three-party agreement between California Governor Newsom's Office, the Assembly, and the Senate.

This year, TICAS and our partners in the Californians for College Affordability and other Coalitions have outlined key policy priorities and investments in the 2023-24 Budget that will address California’s ongoing college affordability challenge, support postsecondary accountability, and ensure a high-quality education.

Governor Newsom’s proposed 2023-24 state budget includes $40.3 billion allocated for California’s higher education segments and the California Student Aid Commission (CSAC). Overall, this provides the higher education space stability amidst slow economic growth.

The recently adopted (although not yet funded) Cal Grant Reform Act would expand access to and strengthen California’s cornerstone financial aid program, the largest state grant aid program in the country. This follows last year’s historic expansion of the Cal Grant entitlement award to community college students regardless of age or time out of high school.

With just over $300 billion committed to supporting Californians statewide, Governor Newsom and the Legislature prioritized postsecondary investments that center on student access and success, increasing affordability, building-out student data systems, and strengthening consumer protections.