Voters May Be Asked to Approve $750-Million For NJ Colleges
Voters may get the chance in November to decide whether New Jersey should borrow $750 million for buildings and upgrades at the state’s colleges.
The bond issue would be the first for higher education in more than 20 years and the largest in state history.
Research universities and public colleges and universities would get the bulk of the money, though some funds would be set aside for the 19 community colleges. The smallest amount, $52 million, would be for independent schools with endowments of less than $1 billion.
The higher education ballot question is being considered in tandem with an ambitious plan to restructure Rutgers, Rowan and the University of Medicine and Dentistry.
That plan and the bond issue are both being considered Monday by the Senate Budget Committee.
(Copyright 2012 by The Associated Press. All Rights Reserved.)